Algapay

The core of Algapay's offering is a service that allows employees of partner companies to access their earned wages at any time through a mobile application, rather than waiting for a traditional payday. This service is not a loan; users pay a small service fee for each withdrawal and can only access a percentage of their salary for days they have actually worked. The platform is provided to employers for free, with Algapay managing the integration and employee training.

Expanding beyond just flexible wage access, Algapay is developing a comprehensive WorkTech ecosystem to automate and digitize HR processes. Its features include digital employee onboarding and offboarding, legally binding signing of HR documents, and integration with accounting systems like 1C to automate payroll and advance payment records. The system can also integrate with access control systems (СКУД) to calculate available salary based on workplace presence. This automation aims to reduce the time spent on HR operations by up to 40% and cut document management costs by 30%.

The service is designed for companies registered in Kazakhstan with officially employed staff. For employees to use the app, their employer must be an Algapay partner. The business model for its earned wage access service appears to be based on the small commission fee charged to employees per transaction.