Floatpays reduces stress for your teams

And that's good for business

Less stress for your employees

Measurable financial wellbeing

No loans, no credit

How does Floatpays work?

Floatpays offers a smooth and secure integration process designed to fit seamlessly into existing workflows. We collaborate with your teams to ensure successful implementation, sharing our extensive payroll integration expertise. Our experienced technology team has created a world-class integration process to ensure we provide you with the security and data management best practise required when working with sensitive employee data. We are fully POPIA compliant.

Secure integration

Floatpays securely integrates with your company’s payroll service in order to calculate an employees’ earned income. Calculations are based on hours or days worked in the current payroll cycle in combination with the withdrawal rules you have configured on our employer portal.

Responsible access controlled by you

The percentage of their earned income is made available to the employee via the Floatpays app. A percentage of earned income is set by you as a ruleset and made available to your employees via the Floatpays app or USSD for feature phone users.

Easy deduction process

The total withdrawals for the payroll cycle along with the service fees are deducted from the employees’ pay at the end of the cycle via an automated payroll deduction.

Streamlined to work with your payroll

Floatpays floats the money requested by your employees and is paid back when you process payroll normally. It’s a zero-cost benefit that has no impact on cash flow.

No cost to your business

Integrations with all payroll systems

No impact on your business cashflow

Usage and Access rules can be customised at anytime

Full dashboard with detailed reporting

Is Earned Wage Access (EWA) good for my employees?

Anyone, at any time, can end up in a financially unstable position due to unplanned expenses or accidents. If that happens, it’s important for the person to have faith in their employer and the motivation to keep showing up to work. The ability to get paid almost immediately makes a huge difference for someone going through a financial crisis.

Reduce reliance on payday loans

Our independent study conducted by Proof of Impact to assess the financial impact of Floatpays on our customers found that Floatpays EWA contributes to debt reduction by reducing the customers’ reliance on higher-cost, higher-risk alternatives (such as credit cards, overdrafts, payday loans, and informal lending), and provides an inclusive, accessible finance alternative that helps customers meet their health and livelihood needs before payday.

EWA is used primarily for life essentials

The Proof of Impact study revealed that EWA gets used primarily for life essentials such as food, transportation, medical and utilities such as electricity, data & airtime. The study also found that almost 30% of employees are no longer using payday lenders as a direct result of having access to Floatpays.

EWA helps employees plan and save

Financial planning can be seen as the building blocks of financial wellbeing. Once we can plan better, we can dream bigger. Floatpays research has revealed that an incredible 90.9% of participants have been able to plan their finances better since using Floatpays.

Instead of just living paycheck-to-paycheck, people now have the opportunity to worry less about money, and to focus more on the bigger picture.

EWA improves emotional wellbeing

EWA addresses the high levels of financial stress employees face and ultimately creates a significant impact on the problems that the workforce face – it lowers absenteeism and decreases illness and lack of engagement.

Our research shows that 54.4% of employees have documented that their financial stress has completely disappeared since having access to Floatpays.

You have full control and oversight

Floatpays provides you with a free management portal once your account has been activated. The portal provides you with the ability to be in control of how your employees access Floatpays through a set of configurable rules. These rules allow you to turn on and off any employee features on a global or individual basis, choose who you want to invite, suspend who you feel is not responsibly using the service and determine what percentage of earned income is available for access.

You will have full oversight of company use through an analytics dashboard as well as the ability to drill down into an employee's profile to view data such as transactions and training modules completed. The portal also offers Role-Based-Access to ensure you can invite your staff to manage parts, or all of the platform.

Does Floatpays provide support?

Floatpays handles all employee support. There is no additional overhead for you to manage the platform. Employee contact service support is offered via in-app chat, email, and telephone support at no cost to either the employer or employee.

Financial stress impacts your bottom line

Financial stress is distracting

48% of people are distracted at work by money worries*

Financial stress leads to absenteeism

16% of people say their financial worries have led them to miss work*

Financial stress leads to increased turnover

78% are more likely to leave for another organisation who cares more about their financial wellbeing

*PwC’s 8th annual Employee Financial Wellness Survey

Offer Floatpays at your company

Fill out the form below for additional information so we can contact you to get your employees using Floatpays.

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