Floatpays is an on-demand wage access platform that helps employees access, spend, save and manage their money. The problem we are solving is that more than 75% of the 12 million employed South African’s run out of money before the end of the month, 52% of those end up borrowing money to survive. Informal lending is the only option for most borrowers, with interest rates anywhere between 30-50%. The story is the same in most African countries where payday/micro-lending has become the norm amongst lower-income earners. Our app features include financial education, a budget planning tool, cash access, and voucher purchases all from wages earned but unpaid. We are currently working on a savings product to promote long-term financial resilience. We launched our product in South Africa in July 2020 and plan to extend our reach into additional African countries in 2022 and beyond.
Floatpays is an innovative employee benefit designed to enhance financial wellness in the workplace. By providing on-demand earned wage access, paycheck-linked savings, financial education, and practical tools, Floatpays helps employees manage their personal finances more effectively.
Floatpays offers flexible pricing plans tailored to the needs of different organizations. Contact us to request a demo and get a customized quote.
Floatpays is designed to support teams at all levels within an organization. By offering financial wellness benefits, you can enhance your employee value proposition and create a more engaged, productive workforce.
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