Revolut has introduced PayDay, which enables people to access some of their salary early.
In Brief:
The feature is currently available in the UK.
Businesses can decide to integrate with Revolut and enable their staff to access the feature.
Users can withdraw up to 50% of their salary in advance.
What does this mean?
Revolut is advertising the feature as an alternative to credit. Co-Founder and CEO Nik Storonsky commented: “We believe in the importance of making financial wellbeing accessible to all, and this includes focusing on the impact of financial stability on employees’ mental health.”
