Paytime’s free technology plugs into employer’s existing payroll software, with users paying an ATM style fee to withdraw their pay early.
Workers get access to their earned wages on-demand, as opposed to having to wait two to four weeks for payday.
The system is not a loan facility, it advances wages already earned.
Paytime co-developer and CEO Steven Furman said more than 50% of Australian workers lived paycheque to paycheque and were forced to wait for a set payday, determined by their company, to receive their earned money.
“So, we set about creating technology that makes life less stressful, by creating an on-demand pay app that gives employees instant access to the pay they’ve already earned, leading to a more engaged workforce and reduced staff turnover,” he said.
