Paymenow celebrates five years of financial empowerment and earned wage access leadership

By Change ETC

From humble beginnings with just 35 users to a financial wellbeing powerhouse serving nearly 500,000 South Africans, Earned Wage Access pioneer Paymenow marks five years of transforming how employees access their earned wages.

Paymenow, Africa's market-leading Earned Wage Access (EWA) platform, is celebrating its fifth anniversary this March. Since launching in 2020, the company has processed over 14 million transactions, helping working South Africans avoid predatory lending practices while gaining greater control over their finances.

"When we started Paymenow, we saw an opportunity to address a critical gap in financial services for everyday South Africans," says Deon Nobrega, CEO and Co-founder of Paymenow. "In a country where 10 million credit customers are behind on payments, we knew providing responsible access to already-earned wages could break the cycle of debt for millions.

The Paymenow platform allows employees to access a portion of their already-earned wages before payday, providing crucial financial flexibility without the burden of high-interest loans.

The platform now serves a diverse user base that is approximately 52% female and 48% male, with strong representation across all working-age demographics.

"What sets Paymenow apart in the market is our focus on long-term financial wellbeing, not just access to funds," explains Bryan Habana, Chief Client Officer and Co-founder. "Our gamified and incentivisation approach to financial education means the more educational modules an employee completes, the more of their earnings they can access, a bit like Vitality but for 

Financial Wellbeing. We've seen just under 2 million training modules completed to date, which demonstrates our users' commitment to improving their financial literacy." Habana adds that “usage data shows while most users can access on average 25% of their salary before payday, most only use between 14% – 17%. This tells us employees are accessing their funds responsibly and not spending just because they can.”

Since 2020, Paymenow has expanded its client base from just ten companies in 2019 to over 300 large corporates across 4 territories in 2025. EWA is a growing component of an organisation’s employee value proposition and a differentiator for companies looking to improve staff retention, loyalty and wellbeing. The Paymenow solution is provided at no cost to employers while offering significant benefits to their workforce.

Beyond wage access, Paymenow has facilitated over 1.5 million no-fee voucher purchases, most of which are for groceries at South Africa’s major retailers like Shoprite, Checkers, Boxer and Pick ‘n Pay. Needing access to wages for Transportation remains the top reason for cash-outs, highlighting how the service helps meet essential needs in a cash-in-hand environment.

The company has also helped users save over R3.5 million collectively through the platform. Users also have access to a free budgeting feature to better manage their finances.

As the first EWA solution launched in South Africa, Namibia and Zambia, Paymenow further maintains market leadership through bank-grade security protocols and cutting-edge technology. 

The platform is fully bank-agnostic and can integrate with any payroll software.

For working South Africans who often face financial pressure between pay cycles, Paymenow continues to provide a responsible alternative that is ten times more affordable than a payday loan and with the platform being data free as well as being available through USSD (and soon on WhatsApp too) it truly is financially inclusive.

As Paymenow celebrates this milestone, the company remains focused on expanding access to responsible financial services across Africa and beyond while promoting financial wellness and inclusion for all.