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PayPal partners with EarlySalary to provide immediate salary advances to employees

December 08, 2021

PayPal partners with EarlySalary to provide immediate salary advances to employees

PayPal On Tuesday, it announced its partnership with lending organization EarlySalary to offer a cash advance facility to its employees. Under this arrangement, PayPal employees will be able to withdraw a level of their salary upfront right away.

Starting salary Will work out a representative’s daily earnings and enable them to withdraw a percentage of it each calendar month during a specified withdrawal window, PayPal said in its statement. Employees will be able to choose the amount they need to withdraw within the month as far as possible and get that amount in their bank account instantly. PayPal said the service would give its representatives better financial flexibility.

“We are focused on utilizing our platform to democratize financial services and work on financial health breaking down barriers and making it easier for people to deal with their financial lives and chase their dreams. We have collaborated with EarlySalary to provide employees the flexibility to access their salaries to cash flow challenges, stay on budget, build financial resilience and reach their long-term saving goals said Jayanti Vaidyanathan, Senior Director, and Head HR. have a partnership.

PayPal said it launched an employee financial wellness initiative in 2018 after conducting an evaluation of the financial well-being of its entry-level employees. As a feature of this initiative, the organization viewed as that despite market pay alignment, numerous representatives were still struggling to cover their bills every month and responded to those findings, with a goal of increasing their employee’s net disposable income. Immediate action was taken to determine these issues. (NDI). The tie-up with EarlySalary is part of PayPal’s initiatives to improve the financial health of its employees.
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