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Paymenow founders: Top from left: CDO Gerbrand Potgieter and CEO Deon Nobrega. Bottom from left: CTO Willem van Zyl and chief client officer Bryan Habana.
Earned wage access platform Paymenow is on a growth trajectory, doubling its user base in the past two years, as it addresses the significant unmet need for cash-flow flexibility among South African employees.
The financial wellness platform says it has rapidly scaled its footprint to serve more than 400 companies across SA, with over 600 000 employees using the platform.
The company − founded in 2019 by former Springbok player Bryan Habana (chief client officer), Deon Nobrega (CEO), Willem van Zyl (CTO) and Gerbrand Potgieter (CDO) − has reported 55% year-on-year growth in transactions over the 2024 to 2025 period.
Paymenow allows employees to access part of their earned wages before payday, offering a way for South African low-income earners to even out their cash flows throughout the month.
Through integrating into employers’ payroll systems, it enables employees to unlock funds without the threat of costly loans, and with the added benefit of building savings and improving financial wellness, it says.
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Habana notes: “Our growth has been driven by innovation, a high-performing team and strong partnerships. We’ve built a platform that creates value for both employees and employers, helping workers gain financial control, while improving efficiency for HR and payroll departments.”
Paymenow’s momentum has also been supported by funding, including a R450 million debt facility from Rand Merchant Bank in 2023, which the company says it is using to finance transactions on its platform, while keeping user fees as low as possible.
After establishing a presence across all nine South African provinces, Paymenow has expanded internationally and now operates in Zambia, Namibia and Pakistan, with more countries on the horizon, it says.
“Paymenow is not a registered company in these regions, but rather has joint ventures with local on-the-ground partners and works with dedicated teams within our partner companies to roll out the service. Our goal is to expand wherever there’s an opportunity to empower employees through better financial access,” Nobrega states.
Paymenow’s omni-channel platform can be accessed via mobile app, web and USSD. The company recently introduced a WhatsApp service to improve accessibility.
Early this year, the company rolled out a revamped employer portal, giving partner firms the ability to view real-time employee statistics, send notifications, upload payslips and reward staff directly through the platform.
Paymenow also plans to develop artificial intelligence-driven products aimed at improving user experience and data insights.
With a team of over 60 employees based mainly in Stellenbosch and Johannesburg, Paymenow says it is looking to expand its workforce as it continues to grow locally and internationally.
Looking ahead, Paymenow says its strategy remains centred on affordability, innovation and accessibility.
“We’re constantly evolving our offering to meet the needs of corporates and employees to not only provide financial wellness to employees, but to also optimise HR and payroll processes for the employers. To increase our market share, we plan to continue creating strong employer/institution partnerships and funding enabling growth,” says Habana.
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