Paymenow, Africa’s market-leading Earned Wage Access (EWA) platform, has partnered with well-established financial services provider Izwe to launch the platform in Zambia.
The innovative EWA fintech platform will be rolled out in Zambia to all employers who wish to assist their employees with the most affordable and responsible liquidity management solution in the market.
Izwe has built a solid reputation for its innovative service delivery systems and customer-centric financial solutions which perfectly complements Paymenow’s EWA offering that enables early access to already earned wages, empowering users to migrate from indebtedness to financial freedom.
Deon Nobrega, Paymenow’s CEO, said, “Our vision is to ease the burden inflicted by unregulated short-term money lenders through affordable, real-time access to a portion of their earned yet unpaid salary, and to educate and assist in reaching financial goals. It’s a transformative model which has proven its social value in South Africa and Namibia, and we’re keen to expand its impact across the continent.”
Willie van Zyl, Group CEO at Izwe, said, “We’re delighted to partner with Paymenow to offer this market-leading service to Zambian customers. Our commitment to offering a wider range of unique financial solutions for positive change is enhanced by Paymenow’s cutting edge delivery platforms, allowing our customers greater control over their finances and greater flexibility to meet their financial needs. This partnership further accelerates our path towards our goal of becoming a digital first, customer centric FSP.”
Kulusu Chisola, Izwe Zambia CEO, said, “Paymenow opens up a new market for Izwe to extend its services to the private sector. The ability to connect employees, employers and financiers on one platform simplifies access to financial solutions, protects employees from opportunistic financial service providers and guarantees a managed cost for users of the platform. This is indeed a game changing solution on the market.”
“Izwe is an established and trusted brand across Africa and this partnership leverages our respective strengths to allow us to go to market in record timing, enabling us to fast-track our pan-African expansion to the largest jurisdictions on our roadmap.” adds Nobrega.
Paymenow’s platform, accessed through an easy-to-use, informative app, promotes responsible financial behaviour in a controlled environment with full visibility from employers.
EWA is increasingly becoming an employee-value-proposition differentiator. Employers who provide an EWA solution to their staff see greater employee satisfaction and mental wellbeing, which results in increased productivity and retention. Employers can set custom limits and eligibility on their own configured Paymenow platform.
After Zambia, Izwe in partnership with Paymenow have ambitious plans for expansion into the rest of the African continent.
Paymenow is a company inspired by people and powered by technology. Paymenow is a responsible earned wage access (EWA) Fintech that empowers staff by giving them access to their already earned wages through a mobile app and website, while looking after their financial wellbeing.
Paymenow’s vision is to ease the burden inflicted by unregulated short-term money lenders through affordable, real-time access to earned wages and to educate and assist Africans to reach their financial goals.
Izwe is an established, licenced multi-national African Financial Services Provider with a 15-year track-record in emerging markets servicing consumers and SMEs with a range of purpose-based loans, savings, transactional and investment solutions.
Izwe believes in providing solutions that create positive change and developing communities by empowering individuals, entrepreneurs, and SMEs.