Sarvodaya Finance’s new solution for on-demand salary access
View(s):Sarvodaya Development Finance PLC (SDF), in collaboration with Fintechnology Asia Pacific Lanka Pvt Ltd (FINAP), has officially launched CIXOR PayDay, a next-generation digital WageTech platform that enables employees to access a portion of their earned wages in real time, while giving employers a structured and capital-efficient way to offer this benefit.
Positioned as a financial wellness tool rather than a loan product, CIXOR PayDay is aimed at salaried and wage-earning Sri Lankans facing short-term cash-flow pressures, combining on-demand access to already-earned income with employer-side features that minimise disruption to working capital, Sarvodaya Development Finance said in a media release.
From left: Dhanushka Mapa, Director/COO – Fintechnology Asia Pacific Lanka (Pvt) Ltd; Dr. Kutila Pinto, Founder/CEO - Fintechnology Asia Pacific Lanka (Pvt) Ltd; Nilantha Jayanetti, CEO – Sarvodaya Development Finance Plc; and Mahesh Jayasanka, Head of Strategic Planning - Sarvodaya Development Finance Plc.
CIXOR PayDay allows eligible employees to securely access part of their accrued wages through a dedicated mobile app, now available on both the Google Play Store and Apple App Store, while employers benefit from end-of-cycle instant settlement and a pre-approved liquidity float of up to 21 days.
Nilantha Jayanetti, CEO of Sarvodaya Development Finance, said: “Across Sri Lanka, many hardworking people are pushed into debt because an unexpected bill arrives just days before payday. With CIXOR PayDay, we give them a regulated, transparent alternative by allowing access to a portion of the salary they have already earned.”
Eligible employees will be able to view their accrued earnings through the app and request advances within limits agreed with their employer, with funds transferred directly to their designated bank account or wallet. This helps them manage essential expenses and avoid high-cost informal borrowing.
Dr. Kutila Pinto, Founder and Chief Executive Officer of FINAP, said: “With CIXOR PayDay, our collaboration with Sarvodaya Development Finance brings this concept into Sri Lanka’s formal financial system as one of the world’s first dual-sided WageTech platforms, delivering flexibility to both employees and employers through an independent, risk-managed infrastructure.”
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