Earned Wage Access (EWA) service provider Paywatch has announced a new partnership with customer engagement platform MoEngage to supercharge its mission to financially empower the Asian workforce through early access to their earned wages.
Through the partnership with MoEngage, Paywatch will be able to optimize customer engagement and retention, further improving customer satisfaction and ensuring more businesses will be able to financially empower their workforce.
Paywatch is the only EWA service provider in Asia that works with top banks—such as Hong Leong Bank in Malaysia and Hana Bank in South Korea—to provide workers access to their earned wages, in real-time, before pay day. In addition to providing liquidity to the workforce, Paywatch also serves as a bridge that provides its underbanked users with direct financial access to reputable banks.
To date, Paywatch has integrated with five established financial institutions across Asia.
Paywatch does not act as a lender to employees. Instead, employees’ earned wage access is enabled through micro-financing provided by the banking partner. In their path to growth and scale, Paywatch needed to lower costs and increase their engagement and retention to give access to employees to get earned finance immediately.
To enable this, Paywatch decided to go the automation route to optimize its engagement and retention strategies through the right channels with the right communique at the right time to the right audience. This created the need for a robust Customer Engagement Platform like MoEngage.
“As our business grows across the region, we were in need of a partner that could help us improve customer satisfaction during every stage of their journey with us. We are delighted to partner with MoEngage to help us effectively analyse data, gather insights and ultimately personalize campaigns for our customers,” said Irene Tiu, Head of Sales and Operations at Paywatch.
“We are delighted to partner with Paywatch as we truly believe in their vision to foster financial empowerment among the Asian workforce. We are confident that this partnership will prove to be a success for both parties, and look forward to reinforcing Paywatch’s vision and mission with the right tools to scale growth,” said Saurabh Madan, VP and GM (SEA and ANZ), MoEngage.
