Meet the startups that say your salary shouldn’t wait till payday
- Employees often turn to costly options like high-interest payday loans to bridge the 30-day salary gap.
- Pade offers on-demand access to accrued pay as a better alternative to payday loans.
- The majority of employees prefer receiving their salaries at the end of the month rather than accessing a portion of their salaries on a weekly or daily basis.
Earned wage access (EWA) provides a valuable solution to the liquidity gap between paydays, offering employees a cheaper alternative to payday loans. While there are concerns about potential abuse and the need for financial education, EWA has the potential to increase employee satisfaction and retention, as well as provide valuable financial data for employers to tailor benefits and improve workplace intelligence.
