KOHO is making everyday a pay day for individuals all over the country.
Furthering their commitment to equip all Canadians with control over their finances, the Toronto-based fintech has launched Instant Pay with select partners and users.
Breaking the mold of the current payroll infrastructure, Instant Pay allows employees to access a portion of their paycheque on a daily basis. The aim for this new feature is to help revolutionize how Canadians access their wages allowing them to budget for their everyday needs.
“From its inception, KOHO was about making quality financial services more accessible and transparent for Canadians,” says KOHO CEO and Founder Daniel Eberhard.
“The deeper we look into the current offerings of personal finances, the more apparent it is that they’re simply not sufficient. Instant Pay is a simple way to financially empower your employees without causing disruption to your current payroll process. Everyone wins.”
Instant Pay is free for employers to implement and does not disrupt current payroll processes while allowing employees to access up to 50% of their daily earned wages at the end of every work day.
KOHO has already partnered with Ameego to provide Instant Pay nationwide. With this partnership approximately 75,000 employees across companies like Tim Horton’s, Boston Pizza and Moxie’s Grill & Bar, will be able to access on-demand pay.