Getting Started: What is InstaPay via Money?

InstaPay is an Australian-first, earned-wage access product, exclusively offered by Swag. Earned-wage access products allow employees to access their already-earned wages, before pay day. InstaPay and earned-wage access products are not credit products, buy-now-pay-later products, nor do they charge interest.

There are 2 InstaPay products that Swag offers - InstaPay Now and InstaPay Daily. Any employee of a company that uses Employment Hero as their HR platform can use InstaPay.

In this guide, we will look at what SmartMatch is, what it offers, and how you can use it. To go to the correct part of the article, click on the topic you want to learn about:

What is InstaPay?

Watch the video overview

Watch the video tutorial

What is earned-wage access?

What is earned-wage access?
Earned Wage Access is a no-credit option for employees to access the wages they have already earned on-demand. Rather than getting paid in rigid pay cycles, employees can request their pay as soon as they earn it, whenever they need it.

The concept of employers offering earned-wage access is still new in Australia, but it has taken off in America. Big players in the U.S. market like McDonalds, Walmart, Uber and PayPal offer earned wages benefits to their employees. In fact, 80% of ‌Fortune 200 companies now offer earned-wage access.

The difference between is significant, even if the names sound similar.

Earned Wage Access: A no-credit feature that allows an employee instant access to wages they have already earned, reducing debt and leaving their credit scores unaffected. InstaPay is an Earned Wage Access product.

Early Wage Access: A personal/credit loan that an employee can access before they have completed any shifts, which is then recuperated through direct debits.

What are the InstaPay products?

There are 2 different InstaPay products - InstaPay Now and InstaPay Daily.

InstaPay Now

See a detailed explanation of InstaPay Now here. 

InstaPay Daily

See a detailed explanation of InstaPay Daily here. 

Where do I find InstaPay?

Accessing InstaPay in your Swag account

InstaPay is exclusively available in your Swag account. Log into the Swag app, tap on the Money icon, then on the Income option along the top bar, then you can choose to access InstaPay Daily or InstaPay Now.

Who can access InstaPay?

The 6 InstaPay eligibility criteria
Conditions Explanation
You must be paid in arrears If your wages are paid in arrears, you may be eligible for InstaPay Now.
You must have been paid 3 times You must have received your pay a minimum of three times consecutively.
You must not be about to leave your job If you have an upcoming termination date, you will be ineligible for InstaPay.
You must be at least 16 You must be over 16 years old to be eligible for InstaPay Now
Your leave affects your balance Any leave within a pay cycle will impact your InstaPay Now available balance.
Your timesheets must have been approved Your manager must ensure that your timesheets have been approved.
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