On-demand Wages

We did this as good corporate citizens

Why should we offer this to you?

If Australian employees need access to money before payday, they have limited options. They can choose from predatory payday loans that charge up to 400% interest, high-fee bank overdrafts, or early-wage providers that still charge interest (and not a fixed fee).

Of those that do take out a payday loan, it soon turns into multiple with the average user of payday loans holding three concurrently with a debt of $2900 – that’s a rise of 356% since 2018.

Providers of payday loans and other short-term credit are unscrupulous, with analysis of 13 payday loan providers showing that 66% percent of their loan holders were unsuitable and should not have been offered a loan in the first place.

In one decade (2004 – 2014) the demand for short-term, payday loans increased twenty-fold. Of those that took out a loan, 60% did not have access to standard forms of credit like bank loans or credit cards.

Regardless of loaning practices, Australians need early access to their wage. 46% of Australians do not have money to cover unforeseen circumstances, one in five households use payday loans to cover the cost of living and over 70% of employees will face financial stress this year.

In a survey by EY, 80% of employees would like some form of early access to their wages and 60% would favour employers that offered it.

There can be a perception that the reasons for early access are for leisure, recreation and retail, but that couldn’t be further from the truth. When given early access to their wage, employees are most likely to spend the money on credit card repayments, utility payments and everyday necessities.

Early access products literally keep the lights on and keep households out of debt.

The demand for early wage access is apparent, but there is still a lack of providers who can give fair and low-cost access to wages before payday. With $1 trillion dollars in accrued pay locked up daily in OECD countries, there needs to be a better way to give staff access.

On-demand Wages gives your employees early wage access, control over their finances, and reduces their stress.

We charge a flat fee regardless of the amount and calculate all allowances. No other Australian provider can give employees the correct amount or charge a flat fee regardless of the amount withdrawn. 

With On-demand Wages, there is no impact to credit scores, and the amount withdrawn is automatically accounted for come payday, meaning there is no repayment term. It’s not a loan, it’s the employee’s hard-earned money – when they want it.

On-demand Wages is not a lock-in provider or contract – employees can use it as little or much as they like and not enter into a debt spiral.

With 28% of the global population employed part-time or temporary (usually without the benefits or security afforded to full-time staff), now is the time to give your staff access to their wages before payday.

Do it fairly, do it automatically, do it with On-demand Wages.


Will this create any increase in administration?

On-demand Wages uses foundU’s advanced pay calculator to automatically interpret complex award scenarios, calculate all superannuation on a rolling basis, and account for nearly all other payroll rules to produce a live, accurate payslip. No estimations – just exactly how much the employee has earned to the hour.

An employee can request to be paid only what they’ve earned, and the platform will automatically remove the amount from their next pay.

Come pay day, you complete payroll like normal whileOn-demand Wages automatically recoups the money an employee has accessed early – no extra work or administration for you. 



How is the payment processed?

We have integrated with the NPP (the New Payments Platform) which is an initiative by the banks in Australia to provide instant payments to over 52 financial institutions.  

When an employee requests funds, the money is transferred from foundU to the employee’s nominated bank account.  
A cash deduction is automatically applied by On-demand Wages to the employee’s payslip, at the conclusion of the pay period the employer generates payslips as normal – with the repayment included to reimburse foundU 

This creates a quick, seamless and secure repayment process that causes zero interruption to the employers normal payroll.  

Questions or feedback?