Earnipay restates commitment to assisting salary earners across Nigeria

FOLLOWING the increasing incidence of running out of money between paydays by salaried employees, a financial services provider, Earnipay, has doubled down on its bold moves to drive employee wellness through its innovative and flexible on-demand access to earned salaries.

Most employees are always in a fix when the money they have can’t take care of pressing needs and bill payments. Earnipay gives access to earned wages in addition to its new addition of financial education product, MINT and savings opportunities.

Given that most employees when hamstrung financially resort to either borrowing, taking a loan, or requesting a salary advance and the attendant challenges that go with these problem – creating options that include exploitative interest rates, embarrassment from loan sharks – Earnipay enables employers to offer employees access to their earned salaries instantly at any time without making changes to their existing payment process nor any cost whatsoever.

For as low as N250 only, employees are able to withdraw up to 50 per cent of their daily earned salary or as accrued at the time of access, at any time of the month and at no interest to them.

Addressing a news conference on the giant strides made by the organisation, Earnipay founder and CEO, Nonso Onwuzulike, said, “We are ensuring salary earners have a better control of their finances by developing a network of tools and an ecosystem that enables them to reduce the time to access money and make better decisions on how they spend, save and invest. With Earnipay, payday is any day.”

He further expressed his firm’s dedication to ensuring financial wellness for all income earners in Nigeria while adding that the organisation has provided up to N100 million of flexible salary access to employees since launching in January and expects to provide their services to 200,000 employees by the end of 2022, thus positively contributing to Nigeria’s socio-economic agenda.

“We are ready to go all the way with employers to improve the livelihood of their employees and ultimately facilitate a better employee-employer relationship,” Onwuzulike added.

Employers need to build their reputation as businesses that care and the imperative to demonstrate this empathy is premised on the fact that the traditional payday structure has become largely ineffective in employee welfare and development.

Earnipay empowers businesses to attract and retain top talent in an increasingly competitive employee marketplace, improve team’s productivity and eliminate the financial stress that holds back employees from performing optimally on their jobs without any disruption to payroll structure and systems.

Chief Operating Officer, Earnipay Busayo-Onome Oyetunji, noted that the company has over 40 employers that it is working with and glowing testimonials of how this revolutionary product has helped individuals in their time of dire need.

“Top management and Human Resources leaders share the exciting testimonies of their employees upon using Earnipay, they are pleasantly surprised at the extent of value they get from using Earnipay, it has become an essential tool for everyday living,” she said.

Oyetunji also stressed that in the growing age of employees wanting more from their employers by being an important part of their lives and employers looking for ways to improve their reputation and contribute to the wholeness of their employees, Earnipay comes as a reliable and trusted solution.

Earnipay, which started as an idea in July, 2021 with an initial team of three, was launched in January 2022 and has since raised $4 million in seed financing led by early-stage venture capital firm Canaan, with other participating investors that include XYZ Ventures; Village Global, a seed stage firm backed by Bill Gates, Jeff Bezos and Reid Hoffman; Musha Ventures; Voltron Capital; Ventures Platform and Paystack CEO, Shola Akinlade.