Salary-on-demand platfrom Refyne rolls out services on Whatsapp

• ByStartupStory     |    July 27, 2022

Refyne, an earned wage access platform, said on Tuesday that its salary on-demand services are now accessible on WhatsApp, allowing employees to view their paycheck in real-time. Users may get started by sending a WhatsApp message to Refyne. The firm will then walk customers through a few simple steps to complete the necessary KYC, after which they will be able to start trading immediately.

The firm, which now works with over 200 employers and also has approximately 1.5 million employees on its platform, claims to be entirely compliant with RBI regulations and that employee data is safe. “In India, one in every three individuals lives paycheck to paycheck, and a sizable proportion has no or fairly limited credit facilities. As a consequence, for factors ranging from financial literacy to credit data to regional limits, many people are underserved or unserved “Chitresh Sharma, CEO and Co-Founder of Refyne, stated.

“Given WhatsApp’s prevalence in India, we believe it is a positive step toward making income on-demand available to a high percentage of Indians,” Sharma said. According to the start-up, which was launched in 2021 by Sharma and Apoorv Kumar, all transactions are safe and follow two-factor authentication.

Refyne’s app currently recognizes 11 Indian languages and is available on Google Play and Apple iOS.  Among its clients are Kaya, Sterling, Car Dekho, STL, Acko, Practo, CCD, Cars24, and Epigamia.

Tiger Global, ICICI Bank, Jigsaw VC, RTP Global, and XYZ Capital are among the main global investors in Refyne. It secured $82 million in Series B fundraising earlier this year, backed by Tiger Global.

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