Any product that benefits from payroll deduction can run on the rail
Phela’s deduction-at-source mechanic is not limited to loan repayment. The same infrastructure that guarantees a bank’s collections can guarantee premium payments for insurers, contributions for investment managers, and instalments for merchants. The rail is product-agnostic.
Built for multiple financial products
Insurance
Life, medical, and funeral insurance premiums deducted from payroll every month. No lapsed policies from missed payments. Insurers get guaranteed premium collection. Employees get coverage that stays active.
Investment & Savings
Unit trust contributions, SACCO deposits, purpose savings, and endowment plans. All deducted from payroll. Consistent contributions, compounding returns.
BNPL & Merchant Payments
Employees purchase from participating merchants and repay in instalments deducted from payroll. Merchants receive upfront settlement. No credit risk for the merchant.
Premium Financing
When an employee cannot afford an insurance premium upfront, a bank on the rail can finance it. The premium is paid to the insurer immediately. The employee repays the bank through payroll deductions.
The ecosystem advantage for banks
Every additional use case on the rail increases the bank’s embedded position within the employer’s payroll. More products running through the rail means more data on employee behaviour, more touchpoints with the borrower, and more opportunities to cross-sell. The bank that integrates first owns the relationship.
Explore what runs on the rail
Credit is the start. Insurance, savings, and merchant payments follow. One integration powers all of it.
Book a Partnership Call