Malaysian earned wage access (EWA) provider Paywatch has on Tuesday announced a strategic partnership with Malaysian integrated media firm Media Prima Berhad to enhance employee financial wellness with EWA.

Paywatch said in a statement that this collaboration marks a significant step forward in Paywatch’s mission to deliver innovative EWA solutions to Malaysian companies.

By introducing EWA into Media Prima’s already comprehensive Employee Assistance Programme, the partnership aims to facilitate and support financial wellness within the organization.

Media Prima’s media businesses include prolific and regionally respected news sources like New Strait Times, as well as national television channels TV3, 8TV, ntv7 and TV9, additional news publications Berita Harian and Harian Metro as well as radio, digital media, marketing and other business lines.

According to the statement, the incorporation of Paywatch’s solutions is aligned with Media Prima’s ongoing commitment to enhancing employee benefits, which currently includes mental health assistance as well as festive salary advances.

The incorporation of Paywatch’s solutions is also aligned with Media Prima’s on-going commitment to improve employee benefits, which currently includes mental health assistance through the Naluri app as well as festive salary advances.

In addition to EWA services, the partnership will also see Media Prima employees gaining access to smart financial management tools such as the bills payment feature, included within the Paywatch app.

“In an age where financial responsibility and flexibility is more crucial than ever, we are excited to work with Paywatch to put in place EWA for our employees,” said Rafiq Razali, Group Managing Director.

“By incorporating EWA into our Employee Assistance Programe, we are not only addressing the pressing needs of our employees but also reinforcing our strategy to continuously support our employees in line with a rapidly transforming world,

“This collaboration now extends our commitment to our employees by providing our employees with the ability to better manage their finances, with the ease of access
provided by Paywatch,” he added.

It is noted that Media Prima first rolled out Paywatch’s EWA solutions in December 2023 with a soft launch within its human resources team, followed by a full-scale implementation in March 2024, empowering over 2,000 employees with the financial flexibility of early wage access throughout all of its companies.

“Our partnership with Media Prima is a significant milestone for Paywatch,

“By integrating our EWA solutions into a leading media company, we’re empowering employees with the financial flexibility that is essential in today’s fast- paced, dynamic environment,” said Alex Kim, President and Co-founder of Paywatch.

“Our platform, proven to be a smart financial management tool, is designed to meet the unique needs of media professionals, offering secure and rapid access to earned wages while enhancing their financial management capabilities,

“This collaboration aligns perfectly with Media Prima’s commitment to fostering a forward-thinking, financially savvy workforce, providing tools that support smarter financial decisions in a user-friendly and reliable way,” he added.

As Paywatch looks to the future, the company plans to expand its services within Malaysia and other markets, targeting a wide range of industries.

Currently, Paywatch is working with several leading brands in the country including Jaya Grocer, Lotus’s and guardian to name a few.

“Our goal is to revolutionize wage access with secure, rapid technology and an intuitive platform,

“By leading the industry with the lowest fees and a transparent pricing model, Paywatch aim is to help employees avoid costly loans and maintain better financial health,” added Kim.

He noted the firm’s commitment to reducing household debt and supporting environmental, social, and governance (ESG) goals through essential financial management education aligns perfectly with the needs of today’s workforce.

“The collaboration between Paywatch and Media Prima marks a key entry for Paywatch, as it continues to expand the bench of industries it currently works with, whilst continuing to drive its vision of a future where financial stability and inclusivity are the norms,” he added.

It is noted that in June, Paywatch secured a $30 million funds in their Series A funding through a strategic mix of equity and credit facilities.

Malaysia’s Paywatch secures $30M funding from a mix of equity and credit facilities