Paywatch

Paywatch is a Malaysia-headquartered fintech company offering Earned Wage Access (EWA) services, allowing employees to access a portion of their earned wages before the traditional payday. Founded in 2020 by brothers Richard and Alex Kim, Paywatch operates across Malaysia, South Korea, Indonesia, the Philippines, and Hong Kong.

Key Highlights:

• Debt-Free Access: Employees can withdraw their earned wages instantly, with no interest charges and a nominal fee of RM2 per transaction in Malaysia.
• Strategic Partnerships: Collaborations with major banks like Citi and OCBC, and enterprises such as KFC, Pizza Hut, Jaya Grocer, and Guardian, enhance the platform's credibility and reach.
• Financial Inclusion: Beyond wage access, Paywatch offers features like bill payments and plans to introduce savings and insurance options, aiming to promote financial literacy and well-being among employees.
• Recognition and Growth: In 2024, Paywatch secured US$30 million in funding, marking the largest raise for an EWA startup in Southeast Asia. It was also the only Malaysian fintech listed in Forbes Asia's "100 to Watch" in 2024.

Paywatch's mission centers on enhancing financial stability for workers and improving employer-employee relationships through innovative financial solutions.