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A Collaboration Between Paywatch and KB Bukopin




Paywatch, a Malaysia-based earned wage access (EWA) provider, has partnered with Bank KB Bukopin to introduce the first bank-backed EWA service in Indonesia. This collaboration aims to foster a financial industry that promotes inclusivity and well-being for the entire workforce.

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Prior to the launch, Paywatch and KB Bukopin signed a Memorandum of Agreement (MOU) to establish the terms and conditions of this groundbreaking initiative.

Indonesian employees will now have the opportunity to utilize the early withdrawal function offered by Paywatch, enabling them to access a portion of their wages. This feature addresses the challenges of cash flow, particularly for low-income employees and those who are underserved, while also alleviating the burden of high-interest rates charged by unaccredited lenders.

The primary goal of Paywatch is to enhance liquidity among employees and bolster financial security by making financial benefits more accessible to the Indonesian workforce.


The introduction of EWA services will have a positive impact on both employees and employers. Employees will benefit from on-demand access to earned wages without the burden of high interest or charges often associated with similar services. This, in turn, will create a healthier workplace culture, allowing employees to showcase their full potential.

Overall, this collaboration between Paywatch and Bank KB Bukopin marks a significant milestone in advancing financial inclusion and well-being for the workforce in Indonesia.

The CEO and Founder of Paywatch, Richard Kim, highlighted the importance of the bank-supported EWA solutions in the country, stating that their pioneering achievements in Malaysia and South Korea is a great headstart in expanding the market in the rest of Southeast Asia

“The collaboration with an established financial institution such as KB Bukopin will aid Paywatch in helping Indonesian businesses in meeting their ESG commitments and backing their employees,” Kim said.

Paywatch underlined that their EWA solution is purposefully designed to be a smooth and convenient choice for employers. It is important to note that joining for the service necessitates no alterations to existing HR management or payroll systems and are free of charge.

Leveraging KB Bukopin’s dependable infrastructure and regulatory framework, Paywatch is capable of offering secure and reliable financial services to the workforce, thereby bolstering the credibility and trustworthiness of the service.

Tom Lee, the Chief Executive Officer of KB Bukopin, is proud of being the pioneering bank in the country to partner with Paywatch and introduce a bank-supported Earned Wage Access solution

“We are thrilled to take the lead in advancing financial inclusion and enhancing overall financial well-being in Indonesia through our partnership with Paywatch,” he stated..

The Deputy President Director at KB Bukopin, Robby Mondong, believes that Paywatch’s EWA service has the potential to empower employees across various Indonesian businesses, positively impacting their lives and means of livelihood.

He expressed that this represents a significant advancement in establishing a sustainable ecosystem for digital banking and finance, which is a commitment that KB Bukopin is fully dedicated to accomplishing.

To date, Paywatch’s EWA solution has already provided tangible benefits to a global workforce exceeding 200,000 employees. As a result, businesses using Paywatch have experienced remarkable improvements in retention rates, up to 75%, and have saved over IDR 6 billion ($401,108) annually in rehiring expenses for both small and medium-sized enterprises (SMEs) and multinational corporations (MNCs).

Paywatch’s mission to transform the landscape of financial inclusivity is poised to generate a more sustainable and satisfied workforce, prioritizing the financial well-being of employees not only in Indonesia but also in other locations.

As a provider of EWA solutions, Paywatch collaborates with renowned banking institutions. Through strategic partnerships with leading banks and employers in each market, Paywatch acts as a facilitator, enabling employees to access banking services and achieve financial security.

Currently, Paywatch is operational in Malaysia and South Korea and actively expanding its presence throughout Southeast Asia.

KB Bukopin is an Indonesian banking company that offers a diverse range of conventional and Sharia banking services, along with financing solutions, catering to a wide array of financial needs.

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