Earnipay works to improve the financial health and well-being of African workers. The Startup has created a platform that delivers financial tools to employees, allowing them to access flexible salaries and make smarter financial decisions and reach financial independence.
Nonso Onwuzulike established Earnipay in September 2021; however, the platform remained in beta until January 2022, when it officially debuted. With Earnipay, Onwuzulike seeks to address the limits of African worker remuneration where the ordinary African wage earner lives paycheck to paycheck.
The goal behind the Startup was to provide employees access to their daily wages while they work for it. By the end of 2022, the Startup hopes to have provided on-demand compensation solutions to 200,000 employees.
Employees are provided Earnipay in collaboration with their companies, and employees may only use Earnipay if their company has already signed up for the service. Employers create an account on Earnipay and enroll their employees in a straightforward process, and their employees have immediate access to all of our financial tools.
The Startup describes Earnipay as a perk of any job. According to its official publications, Earnipay is a financial reward firm that provides to its employees. Employers join Earnipay because they care about their employees’ economic well-being and want to eliminate the number one source of stress in their lives: money.
Earnipay is developing what is known as an earned wage access platform throughout the world. Onwuzulike, on the other hand, presents the firm as a financial wellness solution for employees, with on-demand income access as its initial offering. The platform interfaces with a company’s current payroll or HRM system to provide services to workers, who can then use the app to track and withdraw their earned salary. Earnipay will utilize its seed money to focus on significant businesses and regional expansion.
For employers to join and use Earnipay, they must provide:
- The company name and address.
- Registration number.
- The total number of employees.
- Tax Identification Number (TIN).
- Total net monthly payroll.
The information required is then verified and the account onboarded. Employers can also track and view withdrawals, repay withdrawal earnings, manage and export their payroll.