What is the cost for on demand payments vs advancing salaries?

PayWise+ represents a newly refined offering built on EarlyPay's proven ODP (on-demand pay) foundation. This enhanced solution combines AI enhanced financial wellbeing technology with tailored employer support, delivering measurable improvements in employee financial wellness, employee retention, and operational efficiency.

Unlike basic ODP platforms, PayWise+ goes beyond simple wage access to provide employers with comprehensive insights, proactive support, and scalable solutions that grow with your organisation. It's designed for employers who want the benefits of on-demand pay without the complexity or hidden costs of traditional approaches.

• Advanced analytics and employer dashboards for deep usage insights and ROI tracking
• Personalised onboarding and ongoing support tailored to your business needs
• Competitive, transparent pricing with scalable tiers based on employee numbers and feature requirements
• Seamless integration with existing payroll systems and minimal IT requirements

Traditional salary advances

Hidden costs & challenges:

1. Administrative burden:

   HR teams spend hours processing individual requests, creating paperwork, and tracking repayments

2. Cash flow strain:

   Immediate outlay of funds that may not be recovered for weeks or months

3. Risk of non-recovery:

   Employee turnover can result in unrecouped advances, creating direct financial losses

4. Compliance complexity:

   Legal and regulatory considerations around informal lending arrangements

5. Inconsistent policy application:

   Difficulty maintaining fair, standardised approaches across the organisation

Typical cost: 15-25 hours of HR/payroll time per month + risk of unrecovered funds

Standard on-demand pay solutions

Benefits & limitations:

• Reduced administration:

  Automated processes eliminate manual advance workflows

• No cash flow impact:

  Third-party funding means no direct employer outlay

• Standardised access:

  Fair, consistent availability for all eligible employees

• Limited insights:

  Basic usage reporting with minimal actionable data for employers

• Generic support:

  One-size-fits-all onboarding and customer service

Typical cost: £3-8 per employee per month + setup fees

PayWise+ enhanced Solution

Complete value package:

• All standard ODP benefits:

  Automated processes, no cash flow impact, consistent access

• Advanced analytics dashboard:

  Real-time insights into usage patterns, employee engagement, and financial wellness trends

• Proactive support:

  Dedicated account management with personalised onboarding and ongoing optimisation

• Flexible implementation:

  Tailored integration approach based on your existing systems and processes

• ROI tracking:

  Measurable data on retention impact, recruitment advantages, and productivity gains

• Scalable pricing:

  Competitive rates with volume discounts and feature flexibility

Investment: From £4-10 per employee per month (based on organisation size and feature tier)

Organisations using PayWise+ typically see:

• 85% reduction in salary advance administration time
• 40% improvement in employee financial stress indicators
• 22% increase in employee retention rates
• Complete elimination of unrecovered advance risk
• Positive ROI within 6 months through reduced turnover and recruitment costs

Source: EarlyPay User survey report

PayWise+ is the evolution of Access EarlyPay—taking our proven earned wage access solution and expanding it into a complete financial wellbeing platform.