Welcome to Owó

Hi, its Iby (I lead the engineering team at Verifi)

It was hinted at in our last email and I am super excited to announce a new feature we just rolled out today. It is called Owo.

Why are salaries paid once a month? Or in the west, once every two weeks or weekly? Some people take their money daily — oy! I will not bore you but these are not simple questions that lend themselves to reductionist answers — it is complex. Watching Ebun and Chidozie debate this on slack is fun (You can guess which one of them thinks people should be paid daily).

Owó has two key features, salary advances has been live for a while, Early Pay went live this morning.

Early Pay, allows employees access accrued earnings much sooner than the typical end of the month salary payment routine. Today is the 17th, you have earned half the months pay. You can take it right now. Rad right? Why wait till the end of the month when you have bills today and money you have already earned? And if it can be done without burdening the employer (it is not available to all employers yet) — then why not? It’s not a loan because you’ve earned it!

Log into your app right now and if your employer is on the list of employers that qualify for this — you can take 50% of your salary right now. Like instantly.

Santa’s coming early this year, bring on Detty December :)

No new features or product launches for the year (next year we will open with a new health experience, alternative investment products etc and unemployment insurance — we have some work to do).

On behalf of the Verifi team, Happy Holidays everyone and see you in 2020.

Iby