Exploring Earned Wage Access as a Liquidity Solution
Earned wage access holds promise as a way to help workers solve short-term liquidity needs, but how are real users actually relying on this product?
Earned Wage Access and Direct-to-Consumer Advance Usage Trends
One in five families has less than two weeks of liquid savings. For the many U.S. workers living paycheck to paycheck, financial distress can occur in the time between earning and accessing wages.
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Great wage divide: How earned wage access sparks controversy
Earned wage access is shaping up to be the most divisive financial product in decades as industry trade groups and consumer advocates spar over whether EWA should be classified as credit in order to protect consumers.
Assume EWA is a loan, even though everyone knows it isn’t
Looking back over my decade-plus covering fintech, I see parallels between earned wage access (EWA) today and the past paths of equity crowdfunding, peer-to-peer lending and BNPL. Others in the industry do, too.
The pandemic made Earned Wage Access apps popular. Regulators want to rein in the fees
Many of these apps charge monthly subscription fees, and most charge mandatory fees for instant transfers of funds.
Earned wage access and advances on pay are very different products
The risk of harm to users' financial health is much greater with direct-to-consumer advances than it is from earned wage access programs, write Jennifer Tescher and David Silberman.
ONE@Work: Helping Workers Bridge the Income Gap Between Paydays
Learn how fintech Even, now ONE@Work, partnered with the Financial Health Network to help more people access their wages right when they need them.
Exploring Earned Wage Access as a Liquidity Solution
Earned wage access holds promise as a way to help workers solve short-term liquidity needs, but how are real users actually relying on this product?
Workplace Financial Health Innovation: Rolling Out Credit- and Debt-Related Benefits for Your Employees
As many employees struggle with unmanageable debt, employers can make a difference by providing credit- and debt-related financial wellness solutions. Here are fiscal, legal, and regulatory considerations for businesses to keep in mind as they develop offerings to help employees manage debt, build credit, and improve their financial health.
Workplace Financial Health Innovation: Rolling Out an Earned Wage Access Program for Your Employees
Employers, benefits platforms, regulators, and employees are paying more attention to earned wage access (EWA) products for their potential to improve employee financial health. Employers can maximize the positive outcomes of EWA products by minimizing associated fees, explaining the program mechanics to employees, and providing a complementary suite of financial resources.
Earned Wage Access and Direct-to-Consumer Advance Usage Trends
One in five families has less than two weeks of liquid savings. For the many U.S. workers living paycheck to paycheck, financial distress can occur in the time between earning and accessing wages.
How Will You Advance Financial Health?
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