The Growing Gap Between Payday and Paychecks
Back in 2021, nearly half of Filipino adults had loans and relied on family, friends, or microfinance NGOs (MF NGOs) to get by. Fast forward to today, and the situation is still in plateau with 44% of Filipinos worrying about making ends meet, according to the TransUnion Q2 2024 Consumer Pulse Study. Inflation is biting hard, job security feels shaky, and interest rates are soaring.
It’s not just about needing the money for everyday needs but also the financial stress of keeping up with utility bills, avoiding late payment fees, and managing tight budgets.
There is a technology that eases this problem, and Paywatch Business Development & Partnerships Director Mariel Bitanga Kintanar shares insights into the innovative solutions behind it. Working closely with Paywatch, Asia’s leading Earned Wage Access (EWA) provider, she is helping drive impactful change.
Mariel Bitanga Kintanar strongly advocates financial empowerment, focusing on creating accessible and sustainable financial tools for individuals facing economic challenges. With her leadership, Paywatch is not only providing real-time access to earned wages but also offering a comprehensive suite of features designed to alleviate financial stress.
Through her work, Mariel is helping bridge financial gaps for Filipinos, supporting both immediate needs and long-term financial well-being.
A Smarter Way to Get Paid
In today’s rapidly evolving fintech landscape, innovative solutions are addressing financial wellness challenges for employees. One standout solution is Earned Wage Access (EWA), a way for workers to access part of their salary before payday, with no loans or interest required.
This simple yet effective idea is gaining traction, and Paywatch is making waves in the Philippines. By providing employees with EWA, it helps them manage financial hurdles and avoid the burden of high-interest alternatives.
“By offering our employees the ability to access their earned wages when they need it, we’re helping them take control of their finances and reduce the stress that often comes with living paycheck to paycheck,” says Mariel Bitanga “It’s a game-changer for both employees and employers, fostering a more engaged and loyal workforce.”
Financial Tools to Boost Financially Savvy Filipinos
Paywatch goes beyond offering early access to wages; it empowers individuals with tools to enhance their financial management capabilities.
The recently launched integrated bills payment feature streamlines essential transactions, allowing employees to purchase mobile load or data directly within the app without additional fees. This seamless, hassle-free process eliminates the need to transfer funds to payroll accounts or e-wallets, promoting wise money management while maximizing earnings.
“Features like mobile top-ups are just a small step toward helping people take control of their finances. We want Filipino employees to experience simpler and more accessible financial tools, empowering them to focus on their goals and make better life choices,” shares Bitanga.
With financial literacy initiatives and easy-to-use tech, Paywatch is working to create a future where managing money feels less overwhelming.
Rewriting the Script on Financial Wellness
It’s clear that the old ways of managing money and compensation don’t cut it anymore. Whether you’re an employer looking to build a stronger, more engaged team or an employee hoping for a little breathing room, solutions like EWA are changing the game.
“I want to help employees break free from the cycle of unnecessary debt that often traps them in survival mode. Debt can ruin someone’s financial life, leaving them feeling unmotivated as their hard-earned salary goes solely toward repayments. By providing EWA as a tool that protects them from this burden, we can help employees manage immediate financial pressures and pave the way for them to focus on their long-term goals and aspirations.”
Mariel’s advocacy is driven by a mission to restore dignity to the workforce by breaking the cycle of debt that hinders financial stability. She emphasizes the importance of empowering employees to regain control over their earnings and focus on building a more secure and independent financial future.
To learn more about how tools like these can make life a little easier, check out Paywatch Global at https://www.paywatchglobal.com/.
Backed by major financial institutions, Paywatch is a leading Earned Wage Access service provider dedicated to holistic financial wellness. We partner with leading enterprises and top banks across Southeast Asia, enabling employees to achieve brighter financial futures through secure and flexible financial accessibility. Our mission is to empower people to live better lives. Paywatch is the most well-funded and ESG-focused EWA service provider in Southeast Asia, leading the market by transaction volume, number of client companies and territorial coverage, and operates in Malaysia, South Korea, the Philippines, and Indonesia. It has received global recognition for its dedication to fair financial access, including being named on the Forbes Asia Top 100 to Watch list.