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 Pay-on-Demand service provider, has recently 
launched its second generation mobile application and a completely redesigned 
and rebranded website. In partnership with Pintec, the premium wage advance 
platform has offered its services to more than 90,000 employed Australians over 
the past year.

Securing its footing within the fintech sector in 2020, Wagepay offers an 
industry-leading approach to pay-on-demand services within Australia. 
Positioning itself as an alternative to traditional payday loans and other 
forms of high-interest credit, the brand offers a complete 'lifestyle product' 
in which employed customers have access to necessary funds without the 
restriction of an employer-determined pay cycle.

Wagepay recently released an intuitive rebrand of their current mobile app, 
doubling its maximum wage advance credit limit to an industry-leading $2,000, 
and has added additional features including risk-based tiered pricing and 
proprietary bank scores based on bank transaction data. It has also announced 
today that the app will soon feature free access to credit score tracking and 
budgeting features to assist users in understanding their financial situation. 
This is on top of having lower fees than traditional small-amount lenders, as 
well as no credit checks.

The addition of the Gen2 mobile app and website reboot to the Wagepay brand has 
allowed the company to take a solid step towards reaching its long-term vision 
of revolutionising wage payment in Australia and beyond. According to Tony 
Chan, Wagepay's Founder and CEO: "The second-generation app has allowed Wagepay 
to improve customer engagement and app useability. But more importantly, the 
introduction of tiered pricing on the back of 12 consecutive months of positive 
net transaction margin results, has set the foundation for Wagepay to better 
engage mainstream wage-earners. This is a true testament to Wagepay's Machine 
Learning-based credit risk management capabilities."

"The wage advance business model will revolutionize the way employees get paid 
and is fast becoming the preferred choice of more and more Australians. We are 
excited by the prospect of being able to apply Pintec's efficient digital 
credit solutions to Wagepay's business practices and help it continuously 
upgrade its service experience," says Victor Li, Chief Executive Officer of 
Pintec. "Based on big data and AI-driven risk control modeling capabilities 
provided by Pintec, the premium wage advance platform can automatically perform 
KYC, bank flow analysis and real-time payment, provide customers with more 
efficient and lower cost digital credit services and further the advancement of 
financial inclusion in Australia."

About Pintec

Pintec, a leading financial technology solution provider with superior big 
data, artificial intelligence, process automation capacity and other 
technological advantages, along with its rich experience across the entire 
digital financing process, helping many China-based and international financial 
service institutions, including ICBC, East West Bank, National Australia Bank 
(NAB), Judo Bank, Banjo Loans, Wagepay and Toyota Financial Services, among 
others to achieve more efficient digital transformation and business growth.

About Wagepay

Wagepay is an industry innovator offering premium wage advance services to 
employed Australians. Revolutionising the way Australians access their pay 
since 2020, it has positioned itself as an alternative to traditional payday 
loans and other forms of high-interest credit. The brand offers a complete 
'lifestyle product' in which employed customers have access to necessary funds 
without the restriction of an employer-determined pay cycle.

SOURCE: PINTEC