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Innovative Payments Association

Construction worker on Earned Wage Access

Fintech companies have developed a financial product that allows employees to gain access to
wages that they have already earned before their scheduled payday. The fee for getting an
earned wage advance is usually small, making this product an extremely attractive alternative to
payday loans—the go-to resource for lower-income Americans for the past three decades. 

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EWA and the End of Payday Lending

Providing employees with access to wages that they have already earned but have not yet received through the traditional employer payroll cycle is growing rapidly because of benefits for both workers and employers. By offering the option of getting paid more frequently, employers can both attract new employees and retain current employees, which saves the expense of recruiting, onboarding, and training.

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On Demand: Earned Wage Access

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.

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Workplace Financial Health: EWA

Our current economy is presenting financial challenges for people of all walks of life. Now more than ever, people need to have greater control over their money, which includes when they can get paid.   
With that in mind, I urge all stakeholders to take a second look at the earned-wage access (EWA) market, including reviewing independent research.

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Give Earned Wage Access a Chance


Additional Articles on Earned Wage Access

“Nearly 34% of employees in America want access to their wages as they earn them rather than waiting for a traditional payday, according to the results from the 2023 “Getting Paid In America” survey. ”

Earned Wage Access Articles

"People are running out of money faster. Which is why more employers are discovering that although the amount of compensation paid to their employees is important, there’s something that’s quickly becoming just as important to many of them: when they’re paid."

Additional Articles on Earned Wage Access

“Additionally, in gathering information from its EWA members, the IPA has collated research that shows that on average 63% of EWA users say that it allows them to reduce their use of payday loans, and 55% say they overdraft their bank accounts less often.”

Additional Articles on Earned Wage Access

"Earned Wage Access or on-demand pay is a nobrainer. Employees get access to their earned wages whenever they need them, instead of having to wait until payday. That way, they don’t need to rely on taking out payday loans or deal with unnecessary late fees. And it works."

Additional Articles on Earned Wage Access

"The new research is very encouraging and validates our efforts to empower workers with choice and control of their earned income," said Gino Palozzi, Chief Marketing Officer at DailyPay. 

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