Little, a leading Kenyan fintech firm, has unveiled MySalary, an on-demand salary access platform that empowers workers by providing them with financial flexibility and control, enabling access to a portion of their earned wages at any time.
A Game-Changer for Payroll
“MySalary is a nano-lending platform that allows employees to access small salary advances based on the number of days they’ve worked. The platform ensures a seamless and secure experience, with funds transferred directly to mobile money or bank accounts,” Little Chief Executive Officer (CEO) Kamal Budhabhatti said during the launch.
Budhabhatti said MySalary is a nano-lending platform that allows employees to access small salary advances based on the number of days they have worked. The platform ensures a seamless and secure experience, with funds transferred directly to mobile money or bank accounts.
Key Features and Benefits
The platform offers employees 24/7 salary access, enabling them to withdraw part of their earned wages at their convenience. This reduces reliance on high-interest loans, providing a lifeline during financial emergencies. For employers, the platform integrates effortlessly into existing HR and payroll systems without additional costs or disruptions. By alleviating financial stress, MySalary boosts employee morale and workplace efficiency, fostering a more engaged and productive workforce, Budhabhatti said.
How MySalary Platform Works
The process is streamlined for simplicity. Employees download the app from Google Play, App Store, or Huawei Store, register, and link their employment details. They can then view their real-time accrued wages and request withdrawals, receiving funds instantly via mobile money or bank accounts.
Impact on Employees and Employers
For employees, MySalary eliminates the need for predatory loans, offering a secure and reliable way to manage financial emergencies. Employers benefit from improved retention rates, reduced absenteeism, and a workforce less burdened by financial stress. This innovation aligns with Kenya’s thriving fintech ecosystem, which has long been a global leader in mobile-driven financial inclusion, exemplified by services like M-Pesa.
The Future of Payroll
MySalary’s launch positions Little as a pioneer in Kenya’s fintech landscape, addressing the challenges of paycheck-to-paycheck living while fostering financial independence for workers. Budhabhatti said by bridging gaps in financial access, Little will empower both individuals and businesses, reinforcing its role as a leader in Africa’s digital financial revolution.
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