Paytime is an Australian HR-Fintech with the mission to create a fairer and brighter financial reality for all Australian employees.

We do this by enabling you, the Australian employee, to have access to your earned wages on an on-demand basis so you will never need to access emergency loans caused by having to wait for pay day. Even if you don’t need a loan, Paytime simply allows you to access your earned wages anytime, anywhere. Work today, paid today!

No, Paytime is not a loan. Paytime is simply advancing your earned wages before pay day. You can only withdraw your ‘earned’ wages and no more, so there is no lending. This is why there are no interest rates, late fees, and credit checks.

You can only join Paytime if your employer has teamed up with us to extend OnDemand Wage Access for its employee base.

If you want access to your earned wages on-demand, get in touch with us at support@Paytime.com.au and we’ll arrange your employer to be onboarded to get you started!

Those who help us ‘activate’ their employers will receive an Ambassador status on their Paytime account that effectively waives any access fee for 3 months.

You can typically withdraw up to 50% of your earned wages (sometimes higher subject to your employer’s discretion).

The Paytime solution has been designed to simply provide you access to your earned wages. It has not been designed to encourage you to spend more.

A big part of the Paytime solution is dedicated to elevating and empowering our users to save more and spend responsibly – check out the articles and the various tools that are available for you to use, for free!

Earned Wage Access (EWA) is financial wellness solution that is gaining strong support across the world. Earned Wage Access gives employees an ability to access to their wages/salary that they have already earned without having to wait until their next payday. For millions of Australians, there is a mismatch between the weekly, fortnightly or monthly pay cycle and the daily expenses not to mention the unexpected expenses that crop up that need to be met.

The mistiming of income versus expenses often creates a personal cash flow shortfall which can only be dealt with by either missing these payments or entering into high-interest payday loans; credit cards or even buy now pay later offerings, which invariably put people further into the negative.

Earned Wage Access is not a pay advance (an advance by definition is a loan). EWA simply gives employees access to money that is already theirs. There are no credit checks, no interest charges and nothing to pay back!

Employees work is completed in real-time, so why can’t they get their wages in real-time?

EWA plays a vital role in solving this issue, although it is often misunderstood, to the detriment of both employees and their employers.

EWA is an excellent solution because employers don’t have to change anything in the way they currently run payroll nor is there any change in the way time and attendance is run. Payroll operates as usual; it all integrates seamlessly. The technology works seamlessly in the background.

Employees are already struggling with the mismatch because their pay does not match their bills and other unexpected expenses, so EWA allows them to flexibly access their earned wages when and if they need it, saving potentially hundreds of dollars a quarter in fees and interest from other less ethical sources. Even those that don’t necessarily need this money are utilizing it effectively by simply accessing their pay regularily to put into their mortgage offset account; choosing to save it or even investing the money and getting a return.

Research has proven that EWA is also a big benefit to employers. Staff are more likely to remain with their employer longer, be more engaged and be more productive on the job.

Earned Wage Access (EWA) addresses the need for employees to have increasingly flexible access to their earned wages. Staff living paycheck to paycheck (50% of Australians) are reliant on their next payday. EWA reduces this reliance by allowing employees to visualise, track and drawdown on their earned (but unpaid) wages, whenever they like. When an unexpected bill or expense arrives, instead of stressing and eventually having to turn to credit or a dangerous payday loan, credit card or even a buy now pay later option, they can instead access a portion of their earned wages to cover any shortfall.

Various case studies from major international markets have delivered a clear verdict on EWA:

• There is a 20%+ increase in hours worked, by shift workers due to a more substantial effort-to-reward link;
• 25% reduction in employee turnover; and
• A 15% lower absenteeism.

Furthermore, a report from Visa shows that 79% of surveyed workers are more willing to switch to employers already offering EWA.

Additionally, EWA can provide a meaningful differentiation point for employers with near-wage parity, where other employment enhancements are crucial to attracting and retaining staff.

An Ernst & Young report found that almost 60% of employees would view a potential employer in a better light if EWA were offered as a benefit of the job.

Paytime and EWA addresses a larger problem than just financial wellbeing. Mental health is a severe issue that workplaces need to address, not only to get the best out of their people but as a duty of care to the community they serve and support. Currently, the support systems put in place by corporates are often inadequate and struggle to deliver a solution that targets the underlying issue. With financial stress being one of the key ingredients to mental health, if businesses are not focusing on a solution to assist staff with their financial stress, by offering EWA, coupled with financial tools such as budgeting tools; access to financial councilors and resources to a healthy better lifestyle (all offered by Paytime) then Employee Assistance Packages (EAP) that only focus on the mental health aspect will be only assisting with half the problem, so many employees are facing in their day to day lives, being financial stress.