Refyne, India’s leading salary on-demand platform, has announced the launch of its services on WhatsApp to provide customers with a fast, seamless, and convenient way to access their salaries, in real-time. With this, Refyne becomes India’s first financial wellness company to offer salary-on-demand on WhatsApp. Refyne enables employers to pay salaries to their employees between pay cycles, as they earn it, in real-time. With the launch of WhatsApp, employees can simply avail themselves of their accrued salaries in seconds.
Chitresh Sharma, CEO; CO-Founder, Refyne said “In India, 1 in 3 people live paycheck to paycheck and a significant portion has zero or very limited access to credit. As a result many are underserved or unserved for reasons ranging from financial literacy to credit data to geographic constraints. We believe the combination of sensible financial products and technology can be a great enabler in driving financial inclusion. Given Whatsapp’s penetration in India, we feel it is a step in the right direction for making Salary On-Demand accessible to a large number of Indians.”
Over 80% of Indians run out of their salary before the month ends. The current inflation and uncertainty continue to add pressure to meet daily financial needs. No access to credit or formal loans, coupled with a poor understanding of financial products, drives many people to take high-interest loans pushing them into vicious debt cycles and financial stress. More and more companies in India are recognizing their role in driving financial wellness for employees and the impact it has on business. Salary On-Demand has enabled several employees to meet their daily needs without expensive payday loans, making them stress-free, motivated, and engaged at the workplace. Refyne now supports 11 Indian languages on its app and can be accessed on Google Playstore and iOS as well.