Company Information

Get to know PayNest

Paynest is a mission-driven financial technology company focused on improving the financial well-being of employees. Founded to combat financial stress and provide an alternative to high-interest debt, the company's core offering is Earned Wage Access (EWA), also known as on-demand pay. This service allows workers to withdraw a portion of their already-earned salary whenever they need it. Beyond EWA, the platform integrates tools for financial literacy, budgeting, and savings, aiming to empower users to take control of their financial health. Paynest operates on a B2B2C model, partnering with employers to offer its suite of financial wellness benefits to their workforce.

Industry

Financial Electronic PaymentPRIMARY
Financial Other Service
Financial Payment

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PayNest

United Arab Emirates

Founded in

01 Oct 2019 (6 Years)

Founded

Last online: No recent activity

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OVERALL SCORE

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(180 reviews)

Cyprus

2017

(9 years)

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Security Information

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This company is currently Unproved.

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License

A Grade License

Issued by globally renowned regulators, these licenses ensure the highest trader protection through strict compliance, fund segregation, insurance, and regular audits. Dispute resolution and adherence to AML/CTF standards further enhance security.

B Grade License

Granted by respected regional regulators, these licenses offer robust safety measures such as fund segregation, financial reporting, and compensation schemes. Though slightly less strict than Tier 1, they provide dependable regional protection.

C Grade License

Issued by regulators in emerging markets, these licenses offer basic protections such as minimum capital requirements and AML policies. Oversight is less stringent, so traders should exercise caution and verify safety measures.

D Grade License

From jurisdictions with minimal oversight, these licenses often lack key protections like fund segregation and insurance. While attractive for operational flexibility, they pose higher risks to traders.

TrustFinance is not a licensed financial advisor and is not affiliated with any financial institutions in your region. We encourage you to do your own research before making any investment decisions.