The new partnerships will cover 40,000 employees in Egypt and are an excellent example of how well-known firms are adopting NowPay’s services. Employees can get salary advances at any moment with NowPay, which promotes financial wellness. At any moment, employees can request up to 80% of their income in advance. The platform presently supports hundreds of firms focused on employee health across real estate, manufacturing, technology, retail, food and beverage, and most sectors, allowing it to reach hundreds of thousands of people. It presently manages over 8,000,000,000 EGP (8 billion) in salary and has a 100% employee retention rate. By providing fast cash advances based on the employee’s monthly salary, NowPay enables employees to better manage their budgets, overcome cash flow challenges, and avoid unforeseen events. NowPay’s mobile app allows employees to request and cancel transactions with ease. For corporations, the platform is free, and it eliminates the hassle of managing corporate loans. NowPay advances the funds with no risk, ensuring that employers’ cash flow is unaffected. Salary advances have a sizable market and demand that is continually increasing. The MENA labor force is made up of 152 million people, and the pandemic has contributed greatly to employee financial anxiety. “We are thrilled to partner with some of the world’s most famous brands in food and beverages – it is an amazing endorsement of NowPay. More than ever, employees are anxious about their finances whilst employers want to improve staff retention. These partnerships will add over 21,000 employees to NowPay’s reach and market dominance, and help employees manage their savings and expenses more efficiently.” Mostafa Ashour, CEO of NowPay, commented. “The Instant Salary Advances facility by NowPay has been great for our employees. It has given them the flexibility to take control of their finances, reduced stress, and improved their overall wellbeing. It is a win-win!” Yasmine Daoud, Talent Business Partner of Kraft Heinz, commented. “We are delighted to have partnered with NowPay. The ability for employees to access their salaries on any day of the month with no approvals, bureaucracy or paperwork has been hugely beneficial.” Maged Tadros, Vice President of Human Resources and Administration at Edita, commented.
