KUALA LUMPUR: Ramssol Group Bhd
's wholly-owned subsidiary Rams Fintech Sdn Bhd has entered into a referral and distribution agreement with CTOS Data Systems Sdn Bhd for its “Pay Day Now” Earned Wage Access (EWA) programme.
The group said the parties have inked a memorandum of agreement, in which CTOS Data System will introduce, refer and promote the platform and the EWA programme to employers and clients within its network.
Meanwhile, the RAMS FINTECH platform will onboard and service the referred employers and pay a commission to CTOS Data Systems.
Additionally, the parties will also explore complementary strategic and data collaboration opportunities for their mutual benefit.
The Pay Day Now platform enables staff to
access up to 25% of their earned wages weekly before payday, subject to a maximum
of RM1,000 per month.
This platform is designed to help employees to better manage short-term cash flow while reducing reliance on borrowing.
For employers, the solution helps modernise payroll processes, enhance productivity, and ultimately promote talent retention across organisations of all sizes.
"Giving employees greater control over their earned income is becoming an increasingly important part of building a resilient and future ready workforce.
"Our Pay Day Now platform gives employees greater financial flexibility while encouraging healthier money management habits and support stronger credit profiles over time," said Datuk Wira Cllement Tan, group managing director and CEO of Ramssol, in a statement.
