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Innovative Payments Association

A Financial Tool for Working Americans

Earned Wage Access

Woman outside store on Earned Wage Access

Earned Wage Access (EWA) services have emerged as a valuable tool for American workers to manage financial insecurity. Working Americans can best determine when they need to access money they have earned but have not yet been paid due to the timing of wage payments, typically mandated by employers.  


EWA allows employees to gain greater control over their own financial lives without having to rely on costly alternatives like traditional payday loans or overdraft programs.


Affordable expense management options are not often available to hardworking Americans. Enabled by advances in financial services technology, EWA products have emerged as an affordable option for workers to meet short-term liquidity needs that arise between paychecks, without relying on more costly alternatives such as payday loans or overdraft fees. It’s important to note that most EWA providers offer free models of EWA to their employees. Alternatively, the average overdraft fee is $35; title and payday loan fees range from $15 to $100; and pawn loan fees range from $75 to $100. 

What is Earned Wage Access

EWA allows employees to access liquidity if needed  - and access it at a lower cost by avoiding high-fee alternatives. 

Benefits of Earned Wage Access

With the flexibility to access funds they have earned when needed, American workers can structure their pay to better fit their lives and financial needs.

By offering EWA, employers support their employees' financial wellness, and create goodwill that reduces turnover. 

Support for
Earned Wage Access

Employer-based earned wage access with strong consumer protections can help workers cover unexpected expenses or emergencies.

​Sen. Sherrod Brown

"The rule also excludes from coverage some new 'fintech' innovations, such as certain no-cost advances and programs to advance earned wages when offered by employers or their business partners.”

Former CFPB Director Richard Cordray

EWA is "an appealing alternative to payday loans for workers who want an advance on their wages. Many people don't have savings available to pay for unexpected expenses that can arise in between pay periods….EWA can help consumers to meet such expenses and others…"

Senate Banking Ranking Member Patrick J. Toomey

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