Earlypay for Employers

• What is Mkobo’s employer's portal for?

  The primary goal of the Employer’s portal is to enable every organization to manage their employee's access to Earlypay on Mkobo.Few readers

• Are there any limitations to the use of this portal?

  The portal is currently designed and developed for the sole management of the Earlypay product within an organization.Few readers

• Does the employee need to be an account holder of Mkobo?

  Yes, an invite code is sent to the employee to sign up on the Mkobo bank app.Few readers

• Does the organization need to have an account with Mkobo before using this portal?

  No, however, an employer will need to sign up on the partner portal, to enable them manage and approve Earlypay requests of their employees.Few readers

• How many admin personnel can use a single portal in a company?

  Only one person can have access to the portal in any organizationFew readers

• What are the benefits of the employer portal?

  The benefits of an employers portal includes To manage the request for Earlypay from employees. To assist employees in meeting their financial objectives. To help in the reduction of financial stress.Few readers

• Can this portal be used by any organization?

  Yes! It is designed to cater to both small, medium, and large-scale organizations.Few readers

About EarlyPay

• What is Earlypay?

  EarlyPay is an earned wages access solution for employees. It is an additional benefit that employers can offer to their employees to avoid financial hardships between paychecks. Employees access up to 50% of their accrued/earned but unpaid salary. You can apply for early pay from 5 days after salary date till 2 days before salary date.Few readers

• How does Mkobo make money then?

  We charge a flat withdrawal fee for each transaction. A minimum of N500 and Maximum of N1,000 for earlypay withdrawal above N10,000Few readers

• How many employees/accounts can be registered using the portal?

  There’s no limit to the number of employees that can be registered.Few readers

• Benefits of Earlypay for businesses and employers

  The unfortunate reality is that many salary earners live from paycheck to paycheck. They experience severe cash flow limitations, largely driven by a gap between unexpected daily spending and regular pay cycles. Earned wage access relieves some of the stress of living paycheck to paycheck.Providing on-demand wage access to your employees will improve your employee’s financial well-being. Studies and surveys have shown that improved employee financial wellbeing leads to · Increase productFew readers

• Is Earlypay a loan?

  No! The Earlypay product is not a payday loan as it is an access to an already earned salary.Few readers

• Benefits of Earlypay for Salary Earners

  Let’s list some of the benefits of earned wage access for salary earners illustrated in Deji’s story. · It reduces employees’ financial stress by giving them access to their money when they need it most. · EWA helps salary earners break from the trap of debt cycles as they will not need to resort to payday lenders and other forms of financing that charge high-interest rates. · Financial stability provided by EWA improves the total well-being of employees, which covers emoFew readers

• What documents are required from both the employer and the employee?

  An employer needs a CAC document to set up an account. While an employee needs to download the app upon receipt of the code sent to them by their employer. Then proceed to sign up by providing their email address, date of birth, BVN, and any of these Government issued means of identity verification (Voters card, Driver’s license, NIN)Few readers

EarlyPay for Employees

• What do I need to apply for earlyPay?

  You need to be upgraded to tier 2, login to your dashboard, tap early pay, answer the questions then proceed to link your salary account. However, if your employer has been onboard and you signed up with your employers referral code, you can proceed to request for earlypay in the app or on mkobo web portalFew readers