About Us

Payment Solutions Malawi (PSMW) offers a Affordability and Deduction Management Platform (ADMP) which is focused on creating an efficient eco-system of financial safety that allows low and middle income employees in emerging markets to successfully leverage their earnings to create more value in their lives. Given that financial literacy and education is still in its infancy for most of world’s burgeoning low and middle income communities, for whom property ownership (among other financial investments) will become a key stepping stone to future progress. PSMW's ADMP assists in fulfilling an important gap in the market.

PSMW’s ADMP works simply and comprehensively - first, the ADMP consolidates all financial providers across a country, including banks and micro-lenders, into a single hub. Then, using its built in metrics to determine which individuals qualify for credit loans (e.g. mortgages), it is able to offer financial institutions a risk management tool while also helping individuals who qualify for credit support to pay back their required loan installments from their monthly salary, PRIOR to that salary being paid out to them. In this way, PSMW's ADMP provides an outstanding new financial solution that speaks directly to some of the challenges facing growing emerging markets across the globe.

For countries and companies that wish to promote holistic employee health, PSMW’s ADMP offers a sound economic solution that runs in parallel to their efforts to educate their citizenry and staff to the merits of a properly managed credit environment. In this way, it helps these communities to work toward significant life milestones, such as owning their own home, one progressive and sustainable step at a time.

 

What is the ADMP

  • Performs employee affordability evaluation;
  • Manages deductions PRIOR to them being effected onto the payroll;
  • Builds trust between Lenders and Borrowers;
  • Help convert the employee salary/employment into an asset;
  • We mitigate credit and collection risk for financial service providers.

 

Key Components of the ADMP

  • Electronic live platform that is updated every time a transaction is performed;
  • Registry of all financial service providers;
  • Registry of all employers;
  • Registry of all employees;
  • Up to date payroll information;
  • Up to date financial product information.

 

Benefits to Employees

  • Guaranteed minimum take home income so they cannot dangerously over-commit their salary and have improved control over personal spending;
  • Because banks have no fear regarding loan repayment collections, they are now in a position to offer employees more competitive interest rates on loans, meaning that employees can now commit less of their income to paying off credit (reduction in the cost of lending);
  • Further, as a result of the credibility that comes with using our ADMP product, employees will have wider access to financial and other services (including short and long term insurance policies encompassing key provisions such as funeral benefits);
  • Personal Finance Management and training provided by PSMW;
  • There is also no direct cost to employees if their employer choose to use our ADMP system.

 

Benefits to Employers

  • Ensures that employers comply with regulatory requirements regarding minimum take home income for its employees;
  • Helps employees reduce their level of indebtedness, by being protected from unscrupulous Financial Service Providers and thus contributes to employee well-being. Flexible solution that is future proof at no cost to employer.

 

Benefits to Financial Service Providers

  • The ADMP product increases rate of collections and reduces the instances of non-performing loans meaning that bad debt and arrears are hugely reduced;
  • Opens a new market to Financial Service providers, such as commercial banks, who previously did not lend to low or middle income individuals because of concern over lending risk;
  • Reduces administrative burden of managing deductions through the use of a controlled collection mechanism; assisting in this manner to negate fraud;
  • Equal treatment and opportunity to Financial Service Providers to engage competitively.

 

For more information, click here to go to our holding company, Payment Solutions International's website.