Thank you Emeka for the insight. The misalignment of access to pay with timing of pay is our core focus @paymasta. We are looking deep into finance education, proper management where we create and offer more value to the African workforce.
Nov 28, 2022·edited Nov 28, 2022Liked by Emeka Ajene
Awesome piece, Emeka!
For this model, it's very reliant on employers unlike payday loans which depends on employees. I worry that there won't be enough big companies to make this a standalone business and the smaller ones have working capital reliant on receivables and thus don't have regular paycheck cycles.
Basically do they go full HR or go full Banking?
Integrating to HR systems seem easy but I think this is a solution that wins on distribution vs product. More partnerships with HR SaaS will help. I also think there can be some data play. With access to users payroll, you can advice on other aspects of an employee's spending.
What about "ethical" BNPL? Can something like Pipe work here? - pay for future salary and earn some interest on it. This may cannibalise their main business, but I guess you need this sort of mad thinking to exploit opportunity.
Thank you Emeka for the insight. The misalignment of access to pay with timing of pay is our core focus @paymasta. We are looking deep into finance education, proper management where we create and offer more value to the African workforce.
Awesome piece, Emeka!
For this model, it's very reliant on employers unlike payday loans which depends on employees. I worry that there won't be enough big companies to make this a standalone business and the smaller ones have working capital reliant on receivables and thus don't have regular paycheck cycles.
Basically do they go full HR or go full Banking?
Integrating to HR systems seem easy but I think this is a solution that wins on distribution vs product. More partnerships with HR SaaS will help. I also think there can be some data play. With access to users payroll, you can advice on other aspects of an employee's spending.
What about "ethical" BNPL? Can something like Pipe work here? - pay for future salary and earn some interest on it. This may cannibalise their main business, but I guess you need this sort of mad thinking to exploit opportunity.
Pardon my rant😅.
Loved this one! Thank you for the write-up, Emeka!