GETPAID, a Singapore-based financial well-being startup, said it is hoping to partner with more local manpower agencies and business process outsourcing (BPO) firms.
“Manpower and BPOs are among the core industries that we want to serve, but they’re not the only ones,” GetPaid Co-founder and Chief Executive Officer Mitchell Goh told BusinessWorld on the sidelines of an event on Tuesday.
GetPaid provides earned wage access (EWA), enabling employees to access their wages before the traditional payday. This helps alleviate the financial strain of petsa de peligro for workers.
Also on Tuesday, GetPaid announced its partnership with D’Vinci Manpower Services Corp. to help its minimum-wage earners access their accumulated daily wages.
D’Vinci Manpower Services has a nationwide presence, covering mainly two- and three-wheeled riders and warehouse personnel.
Kristina Marie San Mateo, head of business development at GetPaid, said not all employers can accommodate cash advance requests as these are “admin-intensive.”
“I think GetPaid will be able to meet the needs of their employees, such as in cases of emergency, or when they need fast cash, or they’re facing stopgap situations or petsa de peligro, allowing them to access their hard-earned money through the app.”
It is also more convenient than availing of a loan, which comes with an interest rate and would require more documentation, she added.
Through the GetPaid app, employees can withdraw up to 50% of their salary with no minimum amount and zero interest rates. With a P49 fee per transaction, a worker can receive their salary within 12 hours.
The partnership is expected to boost workers’ morale and improve employee retention, D’Vinci Manpower Services President Miriam P. Gonzaga said. — Beatriz Marie D. Cruz
