Welcome back to Talking Success, one of the Best FinTech podcasts globally! In this episode, Darren chats with Deon Nobrega, CEO and Bryan Habana, Chief Client Officer at Paymenow. In an era where financial inclusion has become a buzzword, few companies truly walk the talk. PayMeNow, a South African startup, is setting a benchmark by offering a platform that brings together technology, empathy, and social impact, reshaping how employees access their earnings. Launched in 2019, the company provides a solution that goes beyond the typical payday loans or salary advances. Instead, it offers earned wage access (EWA), giving employees access to a portion of their wages as they earn them—without the burden of high-interest loans. This article explores the key highlights of PayMeNow’s journey, how it is making a positive impact, and why it’s more than just another financial service provider.
PayMeNow’s story began in 2019 when co-founders, Deon, Bryan Habana, and others, identified a gap in South Africa’s financial landscape. They saw that, although many South Africans had bank accounts, a significant portion was financially excluded from formal credit. As Bryan Habana explains, this financial exclusion created a scenario where people living paycheck to paycheck were vulnerable to predatory lending.
The earned wage access model already existed in countries like the U.S. and the UK, but PayMeNow saw an opportunity to tailor this model to the South African and broader emerging market contexts. What sets them apart is their deep focus on financial education, support services, and a “for good” ethos that drives their business decisions.
At its core, PayMeNow offers employees access to a percentage of their earned wages before their formal payday. This isn’t a loan; it’s money they’ve already earned. The platform provides users with the ability to withdraw small amounts to cover day-to-day expenses like transport, food, or electricity. The average employee withdraws around 15% of their salary throughout the month—often in small increments, such as R300 for transport or electricity.
This model is radically different from the unsecured loans that many South Africans rely on, often with exorbitant interest rates. As Deon explains, “People start treating this money more responsibly because they know it comes off their salary at the end of the month.” This fundamental difference between PayMeNow and traditional loans has led to responsible usage and lower rates of over-indebtedness.
PayMeNow isn’t just about giving people access to their earnings. The company is committed to taking employees on a financial wellness journey. They offer financial education modules that help users better understand budgeting, savings, and debt management. In fact, the app encourages responsible financial behaviour by gamifying the process. Employees can unlock access to more of their earnings by completing financial literacy tasks such as budgeting and checking their credit scores.
This innovative approach, which draws inspiration from models like Vitality in the health sector, ensures that employees are not just getting access to money but are also learning how to manage it better.
While financial inclusion is often a phrase thrown around, PayMeNow has taken concrete steps to ensure that it’s more than just a marketing tool. They provide services that cater to a range of income earners, from packers at Pick n Pay to managing directors. Everyone, regardless of their income level, gets access to the same platform, services, and customer support.
Deon shares an eye-opening statistic: although many South Africans have bank accounts, only 1 in 8 qualifies for formal credit. PayMeNow bridges this gap, giving everyone—from the financially secure to those living paycheck to paycheck—access to the financial tools they need.
Bryan highlights that the real impact lies in the day-to-day interactions with the platform. “It’s not about people using PayMeNow to buy luxury items like LED screens or holidays. It’s about helping them manage their transport, food, and electricity needs responsibly.”
One of the standout features of PayMeNow is its data-free access. For many blue-collar workers in South Africa, the cost of mobile data can be a barrier to accessing financial services. By making their app data-free, PayMeNow ensures that employees can access their funds 24/7, no matter their circumstances. This inclusivity has become a critical factor in the platform’s success.
As Deon explains, “Data-free access was a business decision that cost us, but it was the right thing to do. When people face a financial emergency, they can’t be held back by something as simple as data.”
PayMeNow’s business model is built on partnerships with large corporations, which integrate the platform into their payroll systems. These partnerships are critical because they enable the platform to scale while maintaining its focus on affordability. PayMeNow negotiates bulk deals with suppliers to offer discounted rates on services like electricity, food vouchers, and airtime. These savings are passed on to the employees, further enhancing their financial well-being.
Another unique feature of the platform is the ability to send vouchers to family members. For example, an employee could send a grocery voucher to a family member in another part of the country, making it a powerful tool for people supporting extended families.
While PayMeNow began in South Africa, its vision for financial inclusion is not confined to one country. The platform is now live in five countries, including Zambia, Uganda, and Pakistan, with plans for further expansion. Each market presents unique challenges, but PayMeNow has adapted its model to fit the local context. For example, in some countries, most transactions happen through mobile money rather than traditional banking channels.
This adaptability is a key reason why PayMeNow is poised for further growth. By 2025, they expect to process over a million transactions per month, with plans to enter more emerging markets where financial exclusion remains a significant problem.
While PayMeNow is a for-profit company, it is clear from speaking with the founders that profit isn’t the sole motivation. Bryan Habana reflects on how proud he is of the positive impact the company has had on financially excluded communities. “I go to bed every night knowing we’re making a real difference in people’s lives. That’s something rugby never gave me.”
This “for good” ethos permeates everything PayMeNow does, from their financial education initiatives to their decision to make the app data-free. It’s a refreshing approach in a financial landscape often dominated by short-term gains and predatory practices.
As PayMeNow continues to grow, its mission remains clear: to provide a fair, responsible, and affordable financial service that truly empowers employees. Their journey from processing just 61 transactions in their first month to over half a million today is a testament to the demand for a solution that promotes financial inclusion.
The future looks bright for PayMeNow as they expand into more countries and continue to refine their offering. Their focus on making a positive impact while remaining a sustainable business model sets them apart in a crowded financial services market.
For enterprises, PayMeNow is a no-brainer. It empowers employees, reduces financial stress, and eliminates the awkwardness of salary advance conversations. For employees, it’s a lifeline that not only gives them access to their earnings but also helps them build financial literacy and security.
PayMeNow is not just a financial service; it’s a movement towards real financial inclusion. By combining earned wage access with financial education and innovative partnerships, they are empowering employees to take control of their finances in a way that is fair, responsible, and affordable. The company’s growth trajectory is impressive, but more importantly, it’s the positive impact on people’s lives that makes PayMeNow a true success story.
As PayMeNow continues to expand, it will undoubtedly remain a shining example of how businesses can balance profit with purpose, proving that financial inclusion is not just a buzzword but a real possibility.
Earned Wage Access (EWA) allows employees to access a portion of their wages as they earn them, instead of waiting until the end of the month for payday. With PayMeNow, employees can draw down a percentage of their earned wages during the month, based on the days they have already worked. This is not a loan—there are no interest charges, and whatever is accessed is simply deducted from the employee’s salary at the end of the month. PayMeNow integrates with employer payroll systems to make the process seamless and secure.
No, PayMeNow is not a loan service. Employees are accessing their own earned wages, not borrowing money. Unlike loans, there are no interest rates or long-term repayments involved. Employees pay a small service fee for accessing their wages early, and this fee is often far lower than traditional lending or payday loan services. The amount accessed is deducted from their salary at the end of the month.
PayMeNow is designed to be inclusive and accessible to all employees, regardless of their income level. The service is available to both lower-income earners and higher-income professionals, offering the same service and support across the board. Employers, such as large retail chains or corporate entities, integrate PayMeNow into their payroll systems, allowing employees to access the platform and draw down a portion of their wages.
PayMeNow places a strong emphasis on financial wellness. The platform offers educational modules that teach employees about budgeting, saving, and debt management. As users progress through these modules, they can unlock access to more of their earned wages. The goal is to ensure employees are financially literate and making informed decisions about their money. Additionally, the app provides access to services like financial consultations, budgeting tools, and even savings products—often at zero fees.
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