Empowering The Workers With Flexible Pay

Team Kaarva
Aug 20 · 3 min read

With the changing times and businesses, everything around us is changing dramatically — the way we eat, shop and even when we pay our bills. Despite the massive digitization of banking in the last few years, nothing happened with the way we get paid for our work.

We still continue to get paid our salary every 30-days. Why?

The recent Livemint article provokes a thought — 72% of the working population is not sufficiently paid for their work. Of this, 57 % of Indians live from paycheck to paycheck to make their ends meet.

According to Harvard Kennedy report on ‘ Helping Low Income Working Families Escape the High-Cost Lend trap’, a vast majority of people around the world feel the need of small amount of money at least 6 times in a year in between the salary cycle, but they are not entitled to access it from their salary as and when they require it.

Fact is that even small life emergencies threatens both our mental and financial well-being. Most of us are faced with them around 6 times in an year — Harvard Report.

This could be due to a sudden expense shock due to a medical emergency, an income shock due to loss-of-pay or just to maintain that minimum balance in the bank account to avoid penalties.

43% of today’s workforce is impacted by mental stress due to this basic lack of financial freedom while addressing basic life needs.

There may be other ways you can quickly access cash, like borrowing, but at what cost? Interest, fees, and penalties are just some of the drawbacks. How about social embarrassments that come along with borrowing from your network?

On the other hand, every year more than ₹6 lakh crores of the money we earn are held up in the 30-day salary-cycles.

Together, we working Indians are paying more than ₹25000 crores in high-interest fees and ₹5000 crores in minimum balance penalty to simply sail through while waiting for our earned salaries to arrive.

Ideally, depending on the type of employment and employee’s needs, a salary cycle should be designed.

Unfortunately, in most organizations, one solution fits all is the way.

While every employer acknowledges the merits of flexible pay, but paying employees more frequently is time-consuming , right from administrative costs to taxes.

Living without a safety net is like living on the edge of the cliff hoping to get by without running into a crisis.

Your Salary Your Right

We at Kaarva, understand that it is not easy to ride a temporary crunch just living by your salary. Hence, we are helping the working families escape the high-cost lending trap where people can access their own hard-earned salary, any time with no interest and hidden fees. You just pay as you like for our services.

To us, it’s simple: If you’ve earned money, it’s yours and you should be able to use it whenever, and wherever you want — it shouldn’t be held back.

You worked today, then get paid today for it with Kaarva!

And we have simplified the process to an extent of accessing your salary as easy as sending a message on #Whatsapp. You can know more here: www. kaarva.com

As much as we don’t wish for any financial disturbances in your life, but, when you’re faced with life’s unexpected events, you can be ready with Kaarva.


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