The new partnerships will cover 40,000 employees in Egypt, and are a stunning example of how globally renowned brands are adopting NowPay’s services.
NowPay enables employees to receive salary advances at any time – encouraging financial wellness. Employees can request up to 80% of their salary, in advance, at any time. The platform currently serves hundreds of companies that are focused on the wellness of their employees across Real Estate, Manufacturing, Tech, Retail, F&B and most verticals enabling it to extend its services to hundreds of thousands of employees. It currently manages around 8,000,000,000+ EGP (8 billion) in salaries, with 100% corporate retention rate.
NowPay enables employees to better manage their budgets, overcome cash flow problems and avoid unexpected events by offering instant cash advances by the employee’s monthly salary. Employees can simply request and cancel transactions via NowPay’s mobile app. The platform is free for corporations and removes the hassle of handling corporate loans. NowPay advances the money, and there is zero liability, ensuring no change in employers’ cash flow.
There is a significant market and demand for salary advances, which is growing rapidly. The MENA labour force totals 152 million people and the pandemic has contributed significantly to financial anxiety suffered by employees.
Co-founded in 2019 by Mostafa Ashour and Ahmed Sabry, Nowpay is a fast and quick solution to help employees achieve financial wellness by allowing them to get their monthly salaries in advances, shop hassle free, pay all their bills quickly, and transfer money to their colleagues safely online.