Without Earned Wage Access or the Emergency Wallet
Employees would have full exposure to loan sharks as they would have no means of consolidating a portion or the entire debt amounts
With only Earned Wage Access
This amount is not sufficient to cover large expenses and debts and still leaves employees exposed to exploitative regulated and unregulated lenders for the outstanding amounts.
With Earned Wage Access and the Emergency Wallet
Having access to the multi-month Emergency Wallet allows employees to consolidate much larger debts, completely removing loan shark exposures and allowing employees to manage their finances effectively
Disclaimer
Vumamoola (Pty) Ltd, registration number 2017/137437/07, trading as
Kaelo Money, registered credit provider NCRCP 10398.