Neem Launches Shariah-Compliant Earned Wage Access for Salaried Class

In a country where economic challenges often push the salaried class, particularly the frontline workforce, into cycles of debt, Neem has introduced Neem Paymenow—a shariah-compliant earned wage access (EWA) solution designed to provide financial relief and promote economic empowerment for salaried workers in Pakistan. Talking to ProPakistani, Neem said this Paymenow has a dedicated enablement and technology team equipped to integrate with any payroll system, from complex API-based HRMS platforms to simple Excel files. As for the benefits for the employer, those are the most relevant ones: The key benefits for employers include: Pakistan’s salaried segment, especially the frontline workforce in retail, healthcare, security, manufacturing, and logistics sectors, often faces major financial pressure and runs out of money way before payday. The rising cost of living and unforeseen expenses force many to rely on high-interest financial sources like bank loans, loan sharks, or credit cards, trapping them in a cycle of debt. As a result, a large portion of their salary goes toward repaying debts, leaving little for savings or essential needs. This cycle of borrowing and repayment leads to financial stress, affecting the long-term financial stability and well-being of those individuals, their families and wider communities. The psychological toll of running out of money and relying on loans is severe for many salaried employees in Pakistan. Constant financial anxiety can lead to hopelessness, anxiety, depression, and even suicidal tendencies. This is where Neem Paymenow steps in—a meaningful financial wellness solution that offers employees responsible access to their earned wages before payday, providing a debt-free alternative to traditional financial options. Earned Wage Access (EWA), or on-demand pay, allows employees to access a portion of their earned wages before payday. This solution is gaining global popularity for addressing financial challenges faced by the salaried workforce. With the global EWA market projected to reach $48.68 billion by 2030, its growth highlights its value in solving critical pain points for employees when it comes to accessing their salaries. Neem Paymenow, a new product launched by an established embedded finance platform, Neem, stands out as a unique value proposition in Pakistan’s financial landscape. The solution is not just another EWA service; it’s a commitment to the financial well-being of the country’s workforce, particularly those who need it most. Niran Rehman, Director at Neem Paymenow said, Neem Paymenow is designed to support Pakistan’s frontline workforce by providing timely, responsible access to their earned wages when they need it most. Tailored for employees in industries with high demand for ethical financial solutions, Neem Paymenow is Shariah-compliant, allowing workers to access their earnings in a manner that aligns with their values. Employees can withdraw up to 40% of their salary, promoting responsible usage without overspending. The platform is also accessible in both Roman Urdu and English, ensuring it reaches a broader audience. To further enhance financial wellness, Neem Paymenow includes gamified financial education modules that cover essential topics like savings, budgeting, and fraud prevention, empowering workers to better manage their finances long-term. Neem Paymenow positively impacts both employers and employees in Pakistan by integrating seamlessly with payroll systems at no cost. It allows employees to access their earned wages before payday, boosting productivity and reducing financial stress. This approach enhances employee retention, lowers hiring costs, and supports overall workforce well-being. Neem told ProPakistani that it has three major safeguards built into the systems to help mitigate the risk of overspending: Neem is launching its EWA solution, Neem Paymenow, in partnership with Paymenow, a market-leading EWA provider from South Africa, and with the backing of DNI Group, a mutual investor for both of the ventures. DNI Group has also provided a $4 million credit facility to accelerate the launch and scaling of the Neem Paymenow solution across Pakistan. Deon Nobrega, Paymenow CEO commented, These partnerships bring together global expertise and local understanding, ensuring that Neem Paymenow is not just a product but a movement toward financial empowerment in Pakistan. Ziyaad Manie- Chief Strategy Officer- DNI Group said, By offering early access to earned wages, the platform helps alleviate the financial stress faced by the working class, reducing their dependence on high-interest loans and promoting financial stability. Neem Paymenow is actively scaling into key industries such as retail, logistics, healthcare, and manufacturing, aiming to reach more businesses employing frontline workers. It bears mentioning that Neem Paymenow does charge employees for using the service. However, its pricing strictly adheres to Shariah standards, as the company is a fully Shariah-compliant service. “Importantly, the service is free for businesses. The charge is not interest-based; it is a nominal service fee for providing employees with immediate access to their earned wages. This ensures fairness while covering the cost of delivering this essential service,” it added.