Fintech enables flexible pay via NPP

fintech with a social conscience is using the NPP to facilitate payments focused on enabling ‘financial wellness’. Earnd’s business model allows employers to provide their employees access to their income as they earn it in real-time, negating the need to use payday lenders.  

This business model has proven attractive to major Australian employers with Ascender recently announcing a partnership with Earnd, which will see more than 700,000 Australian employees being able to access their pay as they earn it.

Founded in April 2018, Earnd integrates with an organisation’s payroll and attendance systems so employees can request payment for work completed up until a particular point in time, via a mobile app. The real-time ‘pre-payday’ payment is provided by Earnd and once payday arrives, the employer pays the deducted amount back to Earnd.   

According to one of the founders Josh Vernon, Earnd allows people to take greater control of their finances, eliminating the need to turn to emergency cash loans, such as those offered by payday lenders with high interest rates.  

“When you find yourself in a situation where you struggle between paydays, your options are limited. You should be able to access your income as you’ve accrued it rather than having to turn to expensive payday lenders.    

“Giving access to pay that has already been earned has the potential to fix the spiralling debt cycles linked to current financial products. There is a clear need for quick access to funds in times of crisis, but there is a lack of safe and fair platforms facilitating this,” he said.  

Backed by NAB Ventures and a group of high-profile individuals from within the payments space, Earnd currently accesses the NPP via Bendigo and Adelaide Bank. According to Josh the Platform is a vital part of the Fintech’s value proposition.   

“The NPP has been absolutely key to our service given we want to empower people to access what’s theirs in a time critical way. For example, one user told us he smashed his phone that was vital for his work – he needed it replaced quickly but couldn’t wait until his next payday to do this. Using Earnd meant he didn’t have to resort to a credit card or an expensive online loan.” 

And while there are obvious benefits for individuals, Josh says Earnd also ultimately helps employers with their bottom line.   

Research proves that employers who support their staff with tools such as flexible pay, benefit from tangible upticks in productivity, morale and retention,” he said.  

For more information about Earnd visit