The Socio - Economic Challenge

Many workers in low income communities don’t qualify for conventional bank loans or credit cards. When they face a financial shortfall many turn to payday lenders. These loans might address an immediate need but only at the cost making tomorrow’s financial gap much bigger. Our mission is to eradicate the payday loan industry and bring relief to millions of employees who are living paycheque to paycheque.

Unlocking the power of your paycheque

Level is a socially responsible daily money management platform that builds wealth and dignity for employees through savings, automated budgeting and access to pay when they need it - all before payday arrives.  

 
How we are levelling the playing field for employees
We partner with employers to create salary - linked employee benefits that help employees manage any shortfalls they incur during the month. Level reduces the need to dip into their savings or access expensive credit between pay cycles.
With Level there is no need to dip into savings or access expensive credit

No more

Interest

Credit

Loans

Billions in earned but unpaid income is withheld every week from South African employees. This money is stuck in the payroll system waiting to get disbursed while millions of workers are juggling expenses, paying penalties like late fees, overdraft fees, and interest while waiting for payday.

Sadly, none of the mainstream financial products are designed to reduce the cost of financial shocks impacting low wage workers, instead they do the opposite. These products push ordinary people living in financial stress further towards fee and debt traps that capitalise on consumer failure.

By eliminating these costly ‘waiting for pay’ penalties we can return billions of rands back to workers.


 

When employee’s experience financial shocks

what are their options?

1

Overdrawn Bank Accounts

Maxed Out Credit Cards

Non-Existent Savings

11 Million are unbanked or underbanked

ATM Fees

Maintenance & Overdraft Fees 

Interest & Late Payments

2

Predatory Payday Loans
Title Loans
Instalment Loans

8 Million "first time" borrowers have absorbed over R200 billion in unsecured credit

60% - 1400% Interest
Paying for Overhead Costs
Heavy Individual Risk

3

Access Earned, Unpaid Wages 
No Debt Alternative

Accessible to employees of any credit status, banked or underbanked

No Hidden Fees
No Overhead Costs
No Risk or Interest

Our impact for both

employers and employees

Our salary - linked employee benefits deliver a meaningful, positive impact on the lives of low income employees. By opening up our daily money management platform to staff, employers can make improvements in retention, productivity and employee engagement.

We help people save

Only 6% of South Africans will be able to maintain their standard of living after retirement.

(Source: PSG Wealth)

We reduce debt

Unsecured lending has quadrupled to 225 Billion 2009 to 2019.

(Source: Differential Capital)

We improve your bottom line

The price of poor financial well-being is equivalent to 13-14% of payroll cost.

(Source: PwC)

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