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Alleviating Cashflow Pressures: Paylab Launches Paylab Advance to give Australians Early Access to Their Earned Wages combining with shopping discounts

In a world where financial flexibility is more important than ever, Paylab is redefining how Australians optimise their cashflow With the launch of its latest feature, Paylab allows users to access their earned wages instantly before payday - without impacting their credit score - while also offering an innovative way to save money on everyday purchases.

All this is achieved through the Paylab app!

With the rising cost of living and increasing financial pressures, many Australians face challenges when unexpected expenses arise between pay cycles. Traditionally, options like credit cards, payday loans or pawnbroking assets, have been the go-to solutions - often leading to high-interest debt and long-term financial strain. Paylab provides a smarter, more responsible alternative, allowing users to bridge cash flow gaps instantly while making financially savvy choices and save on purchases with the money they borrow.

Breaking the Pay check-to-Pay check Cycle

For millions of Australians, managing expenses between paydays can be difficult, especially when unexpected costs - such as medical bills, car repairs, or emergency travel - arise. Paylab offers a simple and transparent way to access earned wages instantly, eliminating the need for high-interest credit or costly overdraft fees.

Paylab charges one small fee of 5% and enables offsetting of this fee through a range of immediate reward eGift cards from over 150 Retailers across the country and over 25,000 Cafe’s, Bars and Restaurants. All of this is managed on the Paylab app and supported by the Paylab Wallet.

"Paylab is designed to give individuals the flexibility they need to manage their finances without the unnecessary stress of asking the Boss for an advance on their salary or just getting paid what they’ve already earned to date in the pay cycle," said Anthony Hausler, Founder and Director at Paylab. "What sets us apart is not just the ability to access wages early but the unique opportunity to save money at the same time - helping our users make smarter financial decisions for everyday items"

A Smarter Way to Spend and Save 

An example of a day in the life of Paylab is when a user accessing $200 through Paylab will pay a $10 fee. By purchasing eGift cards on the Paylab app., they can instantly save on their everyday purchases. Depending on the retailer discount available, these savings can offset or exceed the cost of the advance fee, allowing users to make the most of their money while accessing their earned wages. 

This combination of early wage access and real-time savings opportunities makes Paylab a powerful financial tool for everyday Australians, providing an immediate cash flow solution without adding unnecessary debt.

How it Works

Paylab is designed to be fast, secure, and user-friendly:

1. Apply via the Paylab App (via your Apple or Google App Store) - Users can check their available balance and request access with just a few taps.
2. Receive Funds Quickly - Approved amounts are deposited directly into the user’s bank account, ready to be used immediately subject to bank timing.
3. Automatic Repayment - The accessed amount is automatically deducted on the next payday ensuring a hassle-free process with no hidden fees or ongoing interest.
4. Maximise Savings with eGift Cards - Users can use their Paylab Advance funds and past earned Paylab Rewards to purchase discounted eGift cards from major retailers, instantly saving money and offsetting the cost of the advance.

A Commitment to Financial Well-Being

With this new feature, Paylab continues to lead the way in providing practical, user-friendly financial solutions that help Australians gain more control over their money. 

Paylab empowers individuals of all ages - individually and through their employers - by optimising spending, enhancing savings, and enabling opportunities utilising their rewards, all while alleviating cash flow pressures. By combining on-demand access to earned wages with exclusive discounts on everyday spending, Paylab is making financial wellness more accessible and achievable for all.

For more information, please visit www.paylab.com.au.