Filipinos seeking more flexibility in their budget may soon find a solution as the Department of Science and Technology (DOST) has thrown its support behind a startup that provides pay options for employees.
Through Payday Today, an application developed by fintech startup Goodapps, employees can access their wages in advance if needed.
With Payday Today, employees can avail of the Earned Wage Access (EWA) program, allowing them to transfer their money to any bank or e-wallet via the mobile application, which is available on both Android and iOS.
The application also supports other transactions such as bill payments, online payments, and subscription services.
According to Payday Today project leader Caesar T. Michelena, their application seeks to address salary delays, which often lead to increased loans among employees.
“No more petsa de peligro for the employees with this EWA technology. When their cash runs out, they can get their money anytime while their payday is still a few days away,” he said.
Alongside the mobile application, the project team has developed a Web portal for employers and funders. This portal allows them to transfer credits, add users, increase/decrease credits, and release vouchers.
The PayDay Today app was developed through a P3-million funding support of the DOST Philippine Council for Industry, Energy and Emerging Technology Research and Development (DOST-PCIEERD) under its Startup Grant Fund.
DOST secretary Dr. Renato U. Solidum Jr. stated that GoodApps’ program is attuned to the department’s mantra of delivering S&T solutions to improve the lives of the Filipinos.
“This project is a testament of our commitment to provide solutions and open opportunities by assisting our workforce become better financial stewards,” he said.
