Waiting for payday is a thing of the past with Paytime, a new HR fintech that gives employees access to their pay checks before pay day. Startup Daily sits down with CEO and founder Steven Furman to find out how technology has fuelled the platform’s rapid growth.
Steven came up with the concept of Paytime when he realised that about 50 per cent of Australians are living pay check to pay check.
“If you look at the world in terms of, ‘What can we get in real time?’ Pretty much everything, other than our pay checks,” Steven tells Startup Daily. “So at that point in time, I thought, if we can allow some kind of technology that can plug into payroll and allow the individuals to access it in real time, when and if they need it, we can certainly help with their financial stress. With financial stress being the leading cause of mental health problems, solving that problem can really go a long way.”
Paytime makes it possible for employers to pay staff their earned wages in real time, eliminating the need for a set payday. For employees, this reduces the stress of managing their finances and improves mental health and wellness. For employers, Paytime provides a valuable incentive, increasing employment rates, productivity and staff retention.
Your company can empower your employees to take control of their financial wellbeing and reduce their financial stress by offering an EWA solution. Get in touch with Paytime today to arrange a free consultation.