BusinessDay

PayMasta offers financial inclusion to gig workers in new partnership

PayMasta, an earned wage access company in Nigeria, has entered into a new partnership with Unveel.io, to offer swift and reliable access to earned wages for gig workers.

The partnership would enable both companies to offer gig workers faster access to wages, and a more financially secured environment.

Gerald Erih, CEO /co-founder of PayMasta, said the partnership with Unveel.io will provide the firm the opportunity to reach millions of financially excluded and underserved workers engaged in the gig economy in sub-Saharan Africa.

Listing workers with Uber, Bolt, Fiver, Upwork, Glovo, and Airbnb as the first to enjoy the service in Nigeria, Erih said it would give the workers financial freedom.

“As a salary on demand and employee financial wellness solution provider, driving financial inclusion for millions of hardworking Africans employed in the gig economy who are living paycheck to paycheck is a top priority for us as an organisation,” he said.

Read also: Paymasta enters Nigeria’s fintech space to ease employees’ salary needs

Erih said that PayMasta is enabling an on-demand personal finance wellness solution and aiding in the provision of a safer financial environment for workers.

“Using Unveel.io’s data, PayMasta will be able to evaluate the actions of fleet managers working within the economy. The accuracy of the income data that Unveel.io provides is protecting them from debt and exploitation by fleet managers. The result is more equality and fairness to the underserved workers across the gig economy,” he said.

Max Moscicki, vice president of Unveel.io, said earned wage access companies are imperative to a healthy and growing gig economy.

He said it has become important to remember that the workers are the first priority as the industry continues to grow.

“Unveel.io is creating partnerships with companies across the world. It is also using data to not only provide financial alternatives, but financial equality,” Moscicki said.

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