As South Africa prepares to commemorate Human Rights Day on 21 March, Paymenow, the nation’s foremost provider of Earned Wage Access (EWA) solutions for workers and businesses, underscores the vital link between financial empowerment and human rights.
Paymenow is dedicated to supporting the achievement of dignity for workers and efficiency for businesses through innovative financial technology. With a focus on empowerment and financial education, Paymenow is committed to advancing human rights and fostering financial well-being for all.
Denise Neethling, Head of Marketing at Paymenow, emphasises the importance of upholding human dignity and equal rights for all individuals, irrespective of socioeconomic status. “EWA isn’t just about providing timely access to wages; it’s about restoring dignity and empowering individuals,” Neethling says. “Especially in the face of escalating living costs and rising fuel prices, EWA becomes a lifeline for many, enabling them to meet essential needs without resorting to high-interest loans or falling into debt traps.”
The recently released Paymenow Impact Performance Report, conducted by independent research firm 60_decibels, underscores the positive impact of EWA on the lives of Paymenow customers, with 94% reporting an improvement in their quality of life, and 92% stating they would have had to borrow money if not for EWA support. Moreover, 80% of customers report a decrease in total debt levels since utilising Paymenow’s services.
The provision of an effective EWA platform has significant benefits for employers, increasing employee loyalty and productivity. Nearly 80% of customers reported that Paymenow has had a positive effect on their perception of their employers. These customers talk about how they now perceive their employer as being more caring and considerate, and about how they have better financial well-being and reduced financial stress.
“Importantly, and noteworthy given that International Women’s Day falls on 8 March, access to financial education is integral to the realisation of human rights, particularly for marginalised groups such as women,” Neethling notes, citing the fact that 47% of Paymenow’s customers are female. “Through our value-added services, including the option to buy groceries, electricity and airtime vouchers, as well as gamified financial education”, Paymenow empowers employees to develop better money-handling habits, fostering greater financial independence and stability.”
As South Africa gears up to celebrate Human Rights Day, Paymenow reaffirms its commitment to championing financial empowerment as a fundamental human right, driving positive change in the lives of individuals and businesses across the country.
