Pintec enables Wagepay to upgrade digital credit services

Melbourne, Australia, April 6, 2022 /PRNewswire/ — Pintec Technology Holdings Limited (“Pintec”; NASDAQ: PT), a leading provider of financial technology solutions, today announced that its partner Wagepay Pty. ltd. (Wagepay), an Australian on-demand payment service provider, recently launched its second-generation mobile app and a completely redesigned and rebranded website. In partnership with Pintec, the premium payday advance platform has offered its services to more than 90,000 Australian employees over the past year.

Securing its position in the fintech sector in 2020, Wagepay offers a cutting-edge approach to on-demand payment services within Australia. Positioning itself as an alternative to traditional payday loans and other forms of high-interest credit, the brand offers a comprehensive “lifestyle product” in which employed customers have access to needed funds without the restriction of a pay cycle determined by the employer.

Wagepay recently released an intuitive re-image of its current mobile app, doubling its maximum payday advance credit limit to an industry-leading $2,000, and added additional features including risk-tiered pricing and proprietary bank scores based on bank transaction data. He also announced today that the app will soon offer free access to credit score tracking and budgeting features to help users understand their financial situation. This is in addition to lower fees than traditional low amount lenders, as well as no credit checks.

The addition of the Gen2 mobile app and website reboot to the Wagepay brand has taken the company an important step towards realizing its long-term vision of revolutionizing payroll by Australia and beyond. According to Tony ChanFounder and CEO of Wagepay: “The second generation app has allowed Wagepay to improve customer engagement and usability of the app. But more importantly, the introduction of tiered pricing after 12 consecutive months positive results on net transaction margin, laid the foundation for Wagepay to better engage traditional employees and is a true testament to Wagepay’s machine learning-based credit risk management capabilities.”

“The payday advance business model will revolutionize the way employees are paid and is rapidly becoming the preferred choice for more and more Australians. We are excited about the prospect of being able to apply Pintec’s effective digital credit solutions to WagepaYes bcompany practices and help it continuously improve its service experience,” says Victor Li, Managing Director of Pintec. “Based on the big data and AI-based risk control modeling capabilities provided by Pintec, the premium payday advance platform can automatically perform KYC, bank flow analysis and online payment. real-time, provide customers with more efficient and lower-cost digital credit services, and drive the advancement of financial inclusion in Australia.”

About Pintec

Pintec, a leading fintech solution provider with superior big data, artificial intelligence, process automation capability and other technological advantages, as well as rich experience in the entire digital finance process , helping many Chinainternational and international financial services institutions, including ICBC, Eastern West BankNational Australia Bank (NAB), Judo Bank, Banjo Loans, Wagepay and Toyota Financial Services, among others, to achieve more efficient digital transformation and growth.

About Wagepay

Wagepay is an industry innovator providing premium payday advance services to Australian employees. Revolutionizing the way Australians access their wages since 2020, it has positioned itself as an alternative to traditional payday loans and other forms of high-interest credit. The brand offers a comprehensive “lifestyle product” where employed customers have access to needed funds without the restriction of an employer-determined compensation cycle.

About Mark A. Tomlin

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