Let’s talk about Paymenow, the South African fintech turning any day into payday.
Founded in 2019 by CEO Deon Nobrega and rugby legend Bryan Habana, Paymenow lets salaried workers access wages they’ve already earned—on demand.
No loans, no 27%+ micro-lender trap.
The reality is that in South Africa:
the household savings rate is currently at negative 1%. That means for every 100 rand of disposable income, households spend 101 rand, often borrowing to cover the extra expenses
An estimated 10 million South Africans are reportedly over-indebted, and when you include borrowing solely from informal sources, the figure rises to approximately 12 million adults facing financial distress
Tools like Paymenow seem to offer an antidote.
Employers add it as a free perk;
And the platform also helps users get financial education through various tools available on the app.
If that’s not enough, Paymenow also gives you access to savings/investment instruments provided by Allan Gray.
So how is Paymenow doing?
600 000 users
400 + employers including big names like PEP and Pick n Pay
1 Million+ monthly transactions
The earned wage access market is expected to jump from $30.83 billion in 2025 to over $242.46 billion by 2034.
Earlier this year Paymenow secured a R400 million investment from Standard Bank, reportedly the largest Earned Wage Access funding in Africa.
Paymenow has so far expanded into Namibia, Zambia, Uganda, and Pakistan, with PayShap integration and more corporate partners likely lining up.
As an employer: why don’t you have this tool in your company?
Workers: check if your company is in, download the app, boost your cash flow.
Another win for South Africa!
