Paywatch, Asia’s leading Earned Wage Access (EWA) service provider, is reshaping financial wellness for Filipino wage earners.
Paywatch said it is creating a pathway for employees to access their earned wages at any time. This means employees do not have to wait for their regular payday to receive a portion of their pay. Paywatch provides a debt-free solution that protects employees from unnecessary high-interest loans.
“Financial stress contributes to retention and productivity issues. This is a pervasive challenge globally, where 1 out of five employees admits that productivity at work has been impacted by financial stress,” said Alex Kim, president and co-Founder of Paywatch.
“Many end up borrowing from family and friends. Some get loans with astronomical interest rates or salary advances with high processing fees. Even more worrisome are cases where some informal lenders resort to the invasion of privacy and harassment when collecting,” Kim said.