No, PaidHR is not a fintech. It’s following a global HR-tech playbook
- PaidHR launched a wallet app that processes over ₦1.3 billion monthly, allowing employees to access their wages directly.
- The company has disbursed ₦150 million in Earned Wage Access (EWA) last year to tackle liquidity gaps for employees.
- PaidHR's wallet aggregates licensed partners for value-added services, generating passive revenue through transaction cuts.
PaidHR's strategic move into fintech through its wallet app and embedded financial services reflects a growing trend in the HR-tech industry. This evolution not only addresses employee pain points but also positions the company for sustainable growth in a competitive market. The potential for increased revenue through transaction margins and partnerships with fintechs suggests a promising future, although it will be crucial for PaidHR to maintain its core HR identity while expanding its financial offerings.
