Samreen Ahmad · · 1 min readJaya Grocer teams up with earned-wage access firm to boost productivity
Jaya Grocer has more than 40 stores in Peninsular Malaysia / Photo credit: Jaya Grocer
Malaysia-based Jaya Grocer has partnered with earned-wage access (EWA) provider Paywatch, which will provide its service to the supermarket chain’s 3,100 employees.
EWA offerings let employees access a portion of their earned salary before their scheduled paydays, usually to help manage unforeseen expenses.
Since Grab’s acquisition of Jaya Grocer, the grocery startup has launched features to onboard more consumers. These include a membership program, which allows customers to earn and redeem GrabRewards points at Jaya Grocer stores across Malaysia.
Paywatch, which is backed by Gobi Partners, operates in Indonesia, the Philippines, South Korea, Hong Kong, as well as Malaysia. It claims that its solution can reduce employee turnover by up to 40%, improving a company’s productivity.
“Paywatch helps employers cultivate great workplaces and supports their efforts in alleviating money-related stress and distractions for employees so that people can thrive professionally and personally,” said Alex Kim, the firm’s co-founder and president.
Paywatch currently competes with companies like GajiGesa and Wagely. The latter recently secured US$23 million after hitting 1 million salary disbursements since its launch in 2020.
See also: Is earned-wage access Indonesia’s latest hot ticket?
Editing by Miguel Cordon and Jaclyn Tiu
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