PayNet Teams Up with Paywatch for Earned Wage Access Solution

Published about 2 months ago

Malaysia’s national payments network and financial market utilities provider, PayNet, is partnering with Paywatch, a provider of bank-backed earned wage access solutions. This collaboration aims to offer an advanced flexible payroll solution to PayNet’s workforce.

The partnership will allow PayNet employees to immediately access their earned wages. This instant access increases financial flexibility, stability, and autonomy for employees. The collaboration aligns with PayNet’s Environmental, Social and Governance (ESG) strategy, promoting the wellbeing of employees and fostering financial empowerment.

PayNet will be the first employer in Malaysia to bear all transaction costs for its employees on the Paywatch platform.

PayNet and Paywatch: A Commitment to Financial Inclusion

The partnership between PayNet and Paywatch is more than a business transaction. It’s a shared commitment to financial inclusion. Alex Kim, President and Co-Founder of Paywatch, stated, “PayNet forms the backbone of Malaysia’s financial infrastructure, and is one of the cornerstones of the nation’s financial sector. Paywatch is also recognised by the UN Capital Development Fund and MDEC for our commitment to driving financial inclusion.”

Paywatch’s Broad Clientele

Paywatch boasts a clientele that includes major enterprises and multinational firms. Notable names include PayNet, CP Group (Lotus’s), Wilmar Group, PPB Group, QSR Brands Group, Cosway, and the publicly-listed Shopper360, among others. This extensive list highlights the wide acceptance and success of Paywatch’s earned wage access solutions.