Jaya Grocer Employees Gain Financial Flexibility with Paywatch’s On-Demand Pay
by Fintech News Malaysia April 2, 2024Jaya Grocer, a prominent supermarket chain in Malaysia, has announced a new partnership with Paywatch, a provider of earned wage access (EWA) services in Asia.
This collaboration aims to provide Jaya Grocer employees with immediate access to their earnings to enhance their financial flexibility.
Through the partnership, over 3,100 employees across the country will benefit from Paywatch’s EWA solutions, offering timely access to earned salaries for emergencies or unforeseen expenses.
This initiative is part of Jaya Grocer’s broader strategy to improve employee engagement, financial inclusion, and overall well-being.
The Paywatch platform, supported by Visa, provides not only EWA services but also financial education resources to promote better money management among users.
Recent studies highlight the critical link between financial stress and reduced workplace productivity, with 42% of Malaysian employees facing significant financial risks and 62% indicating that mental health issues have impacted their job performance.
By reducing financial stress, the initiative is expected to decrease employee turnover by up to 40% and enhance productivity, according to Paywatch data.
David Jansen
“We collaborated with Paywatch as it offered our employees bank-standard security measures and compliance on a simple-to-use platform.
Our employees have shared how much they appreciate having a practical and helpful financial tool, and they see it as a truly unique benefit that Jaya Grocer has enabled for them,”
said David Jansen, Head of Human Resources, Jaya Grocer.
Alex Kim
“There is a strong correlation between happy, financially secure employees and successful companies. We are excited to embark on this latest partnership, which will set a new standard for employee well-being at Jaya Grocer.
As a holistic solution, Paywatch helps employers cultivate great workplaces and supports their efforts in alleviating money-related stress and distractions for employees so that people can thrive professionally and personally,”
said Alex Kim, Co-founder and President of Paywatch.
