WhiteSight

Payroll FinTechs: Financial Wellness for Employees

Table of Contents

FinTechs, in their quest to go after underserved segments, are going after a significant niche customer base: The Salaried Employees. Salaried employees, especially the ones with poor credit history and in need of quick-cash have relied upon the payday lenders for decades. With new regulatory interventions and consumer awareness, the payday lending industry is on its wane. A new breed of fintech startups has sprung across the world to fill this #whitespace.4 broad categories can be observed in this segment:⏱ Salary On-demand – This is a fast emerging category. Fintechs in this category are partnering with corporates, HR software providers and payroll systems to enable flexible access to earned wagesSalary Advance – Fintechs in this category provide short-term credit to employees based on their salary and avoid the exorbitant rates charged by erstwhile payday lendersEarly Direct Deposit – A prominent feature largely provided by new-age banks in the US and the UK, enables account holders to receive paychecks up to 2 days in advance from standard payday.Crypto Payroll – This is the newest category which enables firms to make wage payments through multiple crypto-currencies.With financial wellness gaining precedence across organisations, these fintechs are well-poised to serve a generation of a […]

This post is only available to members.

Already a subscriber? Log in to Access

Unlock this blog

Gain exclusive access to this blog alone.

Radar Subscription

Select a membership plan that resonates with your
goals and aspirations.

Not Ready to Subscribe?

Experience a taste of our expert research with a complimentary guest account.

We publish new research regularly. Subscribe to stay updated.
No spam. Only the best in class fintech analysis.



    Related Posts
    Infographic table showing crypto power plays and acquisitions in 2025, including acquirer, target, value, segment focus, and strategic rationale.
    Complimentary Research
    Table showing fintech companies, their license types, license status, regulators, geography, and license objectives as of April and March 2025.
    Complimentary Research
    Infographic showing the growth of digital payments in Saudi Arabia, including e-commerce (Mada Card), bill payments (SADAD), card payments (PoS), and instant payments (sarie) from 2022 to 2024.
    Complimentary Research
    Infographic overview showing different types of loans given by Nubank in Latin America, like FGTS Birthday Withdrawal Anticipation, Investment-backed Loans, and Payroll Loans for federal employees, retirees, armed forces, state and municipal employees, and private sector.
    Complimentary Research
    Infographic design showcasing business banking services in Brazil from Itaú, Nubank, Inter, and C6, highlighting offerings like accounts, cards, payments, and POS solutions.
    Complimentary Research
    Table comparing retail banking services in Brazil between incumbent bank Itau and digital banks Nubank, Inter, and C6 Bank, showing checkmarks for available services.
    Complimentary Research
    Select currency
    WS_Logo_-for-White-BG-01.png