News and Announcements
CashD secured over 1 million workers in Australia
- Published June 02, 2022 12:00AM UTC
- Publisher Wholesale Investor
- Categories Company Updates
CashD is excited to announce that over the last 2 months, the company has secured 4 strong channel partners via its channel-partner agreements program, delivering over a hundred thousand employers in turn over 1 million workers.
CashD is a B2B technology that enables employees/workers to get paid on any day at any time.
The company’s current metrics have increased to an average withdrawal of $173 per withdrawal with the average user withdrawing 3.7 times per month. Based on the company’s current user acquisition rates, for every 5,000 active users, CashD generates over $120,000 per month in gross profit transactional value. The industries rising to the top include healthcare, construction, labour-hire and hospitality.
CashD is redefining “pay” by empowering workers to decide how and when they choose to get paid. The entry-level CashD solution is Early Wage Access (EWA or On-Demand-Pay) and thereafter the company can deploy additional features encompassing several modules including BPAY, a wellness wallet, debit card, cryptocurrency purchases, and superannuation.
About The Company
The world of pay is changing and CashD (pronounced Cashed) has developed a payments platform that enables workers to get paid their accrued earnings from their employer at any time, on any day.
Today’s payroll is outdated. CashD enables a low risk, seamless experience for a company to offer on-demand pay and even extend its own payroll funds without changing existing company processes.
Our unique competitive advantages are our integrations with payroll, workforce management and HR solutions enabling CashD to drive revenue via the direct integration to payroll. The CashD solution publishes a real time wallet for each worker/employee. In summary, CashD is a real time digital wallet of money earned but not yet paid.
CashD’s strategy is the “powered by” go to market strategy (offering revenue opportunities for partners), built in automated payments of transaction fees and our low risk creditor contract structure. CashD has recently been working on major trials with ASX listed companies and has developed a lightning-fast business onboarding process – in some cases less than 5 minutes.
The Australian market has over 13 million workers who are caught in a fixed payroll cycle. CashD is flipping this old model on its head without changing the end company systems or processes.
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