Kuala Lumpur, 24 March 2025 – A new study conducted by 60 Decibels, in collaboration with the International Labour Organization (ILO), an agency of the United Nations, has found that Earned Wage Access (EWA) has great potential to enhance financial well-being. Among key findings, 80% of Paywatch users reported an improved quality of life, reinforcing the promising role of responsible EWA solutions in financial resilience and workplace satisfaction.
The study highlights that 57% of the employees cited reduced financial stress, 51% gained greater control over their finances, and 49% reduced their reliance on payday loans or salary advances. Long-term financial benefits were also observed with 36% of users increasing their savings and 30% reducing household debt.
As Paywatch’s EWA is deployed at the companies by their HR departments as an employee benefit, the study illuminated key points on the service’s impact from an HR perspective. Most notably, 41% of the users reported that their relationships with their employers improved. Moreover, 46% said they would prioritize jobs offering EWA services, when looking for their next job.
The rapid expansion of EWA in emerging markets has sparked discussions around its impact on economic inclusion and workforce well-being. The study indicates that responsible EWA models, like Paywatch, empower workers to take control of their financial health without falling into debt traps.
The findings were unveiled during a media briefing on 24 March 2025, officiated by Ir. Wan Murdani bin Wan Mohamad, Head of Digital Industry Acceleration & Digital Exports at the Malaysia Digital Economy Corporation (MDEC). This was followed by a panel discussion titled “EWA in Action – From Global Study to Workforce Transformation in Southeast Asia,” whose panelists included Alex Kim, President and Co-Founder of Paywatch; Billy Lim, Country Manager, Paywatch; Andrej Slivnik, Technical Officer at the ILO Global Centre on Digital Wages for Decent Work and Pradyot Komaragiri, Manager at 60 Decibels.
“Paywatch is revolutionizing how workers access their wages, bridging financial gaps while promoting responsible financial habits,” said Alex. “This study validates what we’ve seen firsthand: when EWA is done right and responsibly, is a game-changer for workers and employers alike. For workers, EWA is becoming a crucial factor in job decisions, while for employers, it strengthens workplace offerings and demonstrates commitment to employee well-being.”
Andrej emphasized the broader significance of the study: “Financial inclusion is not just about technology; it’s also about dignity. This study exemplifies how digital wages and the additional financial services they unlock can improve workers’ financial well-being. By providing timely access to wages, EWA can help workers better manage their financial needs. Moving forward, it is crucial to also consider the risks and ensure responsible implementation of EWA models. We look forward to collaborating with providers, regulators, and employers’ and workers’ organizations on policies and practices that protect and empower workers globally”.
Pradyot, who led the data collection and analysis, added: “The findings from our research demonstrate the value of responsible EWA solutions in improving workers’ financial health. The data consistently shows that when EWA is implemented ethically and transparently, it can help in reducing financial stress, enhancing workplace relationships, and fostering economic inclusion. This addresses many of the financial pain points workers face today, indicating that early access to wages can make a tangible
difference in their fiscal wellbeing”
Beyond wage access, Paywatch integrates additional financial tools that support long-term stability. Its ESG-aligned platform includes a zero-fee Bill Payment service to help users manage expenses responsibly and a new insurance policy with no installment fees, ensuring essential protection without financial strain. These innovations reflect Paywatch’s commitment to building fair, transparent, and sustainable financial solutions. As Malaysia navigates rising living costs and increasing financial
pressures, responsible financial services such as EWA are emerging as critical tools for economic stability.
Paywatch remains committed to working with global organizations and regulators to drive responsible financial access, ensuring that workers have fair and transparent wage practices without falling into debt traps. As part of this commitment, a Conduct of Practice is being discussed to establish global standards for responsible EWA services. This initiative aims to ensure the EWA movement is headed in the right direction and to distinguish fintechs that are truly impact-oriented in this space worldwide.
