Refyne has announced its salary on-demand service that is available on WhatsApp. It will help employees access their paychecks in real-time.
It will provide customers with a fast, seamless, and convenient way to access their salaries in real-time. The users can simply send a WhatsApp to Refyne.
The company will then guide them through some quick steps to complete the required KYC and on successful completion, they can begin transacting instantly.
Refyne becomes India’s first financial wellness company to offer salary-on-demand on WhatsApp. It is fully compliant with the Reserve Bank of India (RBI) laws and the employee data remains secure.
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”, Chitresh Sharma added.
CTO & co-founder Apoorv Kumar said, “Refyne has been a breather for several hundred thousand employed Indians who face financial stress and cash shortfalls between pay cycles.”
“For employers, Salary On-Demand results in improved workforce productivity and retention, lower attrition, faster hiring, all this at zero cost”, Apoorv added.
Refyne partners with organizations to extend Salary On-Demand to their employees. The company believes employers play a crucial role in their staff’s financial literacy plan, and providing employees access to their real-time earned salary promotes a stress-free and productive workforce.
The startup currently works with over 200 employers and has over 1.5 million employees on its platform. Refyne’s one-stop platform enables your employee base to build financial resilience and nurture a favorable work culture.
The company has a plug-and-play technology, employees can access their earned salary instead of opting for exploitative payday loans or other high-interest credit schemes.
