asukhwani

4 ms·

1.
by asukhwani 5y ago
Congrats on the launch guys. This is a real need!
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by asukhwani 5y ago
Indeed! That's why we released a second feature called "Saveflow". It allows employees to take a fraction of their payslip and put it into a virtual piggy bank. We just launched it but utilisation is great!
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by asukhwani 5y ago
In fact, only just yesterday, someone asked me “how come Wagestream copied your UX/UI?” ;)
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by asukhwani 5y ago
Suppose an employee has a salary of 1,000$ per month. If the employer sets this filter at 50%, the employee can only withdraw up to 500$ on Payflow. Makes sense?
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by asukhwani 5y ago
This is one of 100+ players trying to solve this problem. It’s a real problem and lots of us are trying to solve it!
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by asukhwani 5y ago
Our average user in Spain withdraws 50$, but their monthly salary is >1,000$. We also regularly survey users to see chat reasons they make withdrawals for. Our conclusion is users are taking small portions of their salary to cover unexpe
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by asukhwani 5y ago
jkhdigital is right. Also, bear in mind that our average user in Spain takes out 50$, whilst their salary is >1,000$. We also regularly survey users to see chat reasons they make withdrawals for. Our conclusion is users are taking small
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by asukhwani 5y ago
100 years ago, people were paid just after they worked. There are two reasons why that stopped being the case. Firstly, it’s a lot of work for the company. Secondly, it’s worse for the company’s cash flow. As others have also replied, the f
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by asukhwani 5y ago
Exactly, the risk is the first big difference. With Payflow, you can never spend more than you have already earned. The second thing is most blue-collar workers in most countries can’t get credit cards at all.
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by asukhwani 5y ago
Thanks a lot for sharing these learnings. We will keep them on our radar. Sure, would be great to chat!
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by asukhwani 5y ago
Indeed… We think it’s a better way to get paid and we hope that one day everyone will get paid on-demand (worldwide). Let’s make that happen! ;)
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by asukhwani 5y ago
Interesting observation! There are 100+ startups in the world trying to help with on-demand pay! Most of them have a very similar UX/UI.
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by asukhwani 5y ago
Indeed! We really like the idea of making the employer pay for it. We think it makes it a better benefit if the employee doesn’t have to pay.
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by asukhwani 5y ago
Good point. It would have been more accurate to state that we were surprised at how much people used the app! Over 40% of employees that have access to our app use it! Also, we were surprised by how high user retention is.
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Launch HN: Payflow (YC S21) – Allow workers to access their wages instantly
88 points by asukhwani 5y ago|93 comments