PaidHR, a Nigerian HR software provider, has seen a 5,900% increase in earned wage access (EWA) disbursements, surpassing ₦150 million to over 2,000 users in 2024. This surge reflects the growing demand for flexible salary payments, helping employees cover essentials like bills, rent, and transportation before payday.
Unlike payday loans, EWA offers early access to earned wages without credit checks, reducing financial stress for workers. However, concerns over financial literacy and over-reliance persist. PaidHR addresses this by capping withdrawals at 50% of accrued earnings and partnering with financial education firms to promote responsible usage.
With rising awareness and competition from Salad Africa and Notch HR, EWA is reshaping financial wellness in Nigeria.
Read the full news here.