Lift Early Wage Access Platform Launches in Vietnam, Adopted by 5 Korean Manufacturers

Aimed at improving financial accessibility for Vietnamese workers and enhancing corporate welfare, fintech startup Lift has officially launched its Earned Wage Access (EWA) service in the Vietnamese market. Lift's service is an innovative financial and employee welfare platform that enables workers to instantly withdraw wages corresponding to the days they have already worked, via a mobile app, before their payday. Currently, Lift has signed contracts with 5 Korean manufacturing companies located in major industrial complexes near Ho Chi Minh City, providing services to approximately 500 Vietnamese workers. It is rapidly expanding, particularly in labor-intensive manufacturing sectors such as garment and electronics, thereby proving its necessity. Initial indicators clearly demonstrate the strong effectiveness of Lift's service. Approximately 95% of workers who subscribed to the service use Lift repeatedly every month. Notably, during the approximately 4-month pilot and initial operation period, the turnover rate for the group of workers using Lift recorded 0%. This proves its value as a welfare tool that contributes to increasing worker satisfaction and reducing turnover. For Vietnamese workers who find it difficult to use existing financial services such as credit cards or employee loans, Lift provides stable financial liquidity within their salary limits. It serves as a safe and reasonable alternative, resolving chronic cash flow problems before payday and helping them avoid reliance on high-interest private loans or informal finance. From the company's perspective, it becomes a powerful welfare tool that can enhance employee satisfaction without additional management burden or financial risk. Since the pre-paid amount is automatically settled on payday, there is no additional workload for company personnel. Lift plans to secure 20 client companies by June next year and diversify its service portfolio into sectors such as retail, logistics, and services. In the long term, Lift has a vision to innovate the overall financial lives of Vietnamese workers by analyzing worker attendance and wage repayment data to build an Alternative Credit Scoring (CSS) model. Based on this, it aims to evolve into a 'Fintech Super App exclusively for workers,' encompassing low-interest microloans, remittances, and savings products. Yang Jeong-ho, CEO of Lift, stated, "We aim to provide a fundamental solution to one of the biggest challenges faced by Vietnamese workers: chronic cash shortages before payday." He emphasized that Lift will be a reliable partner, helping them utilize the wages they have already earned and avoid relying on irrational financial alternatives.