Key Development
The company has entered into a partnership with Pipeline Engineering Consultants Pvt. Ltd., Uttar Pradesh, to offer its Early-Wage-Access program to the employees of Emerald Finance Limited.
Partnership Details and Purpose
The partnership aims to provide instant financial relief to employees by allowing them to access part of their salaries seamlessly throughout the month. This initiative is in line with the company's vision to expand its offerings and serve retail customers at large through a salary advance solution.
Product Mechanics
The Early-Wage-Access product involves:
- Tying up with employers to offer short-term loans as salary advance
- The amount lent is collected through salary deduction