Dublin, April 22, 2020 (GLOBE NEWSWIRE) -- The "On-Demand Earned Wage Access: U.S. Vendor Comparison" report has been added to ResearchAndMarkets.com's offering.
A new industry within the financial wellness market provides employees with access to wages that they have already earned but have not yet received through the traditional employer payroll cycle. Workers can request to receive a portion of their pay before payday in order to be able to pay their bills on time and avoid high-cost financing options like overdrafts, credit cards, and payday loans. 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 new workers.
This latest research report, On-Demand Earned Wage Access: U.S. Vendor Comparison, examines market providers of services delivered as part of employers' benefits and also at solutions that operate as a direct-to-consumer model.
This is a rapidly growing corner of the payments industry that has the potential to alter the way workers think about getting paid, commented Sarah Grotta, Director, Debit and Alternative Payment Products Advisory Service, and author of the report. The solutions reviewed in this report are focused on helping lower wage workers who often face income insecurity and financial hardships. However, as the industry matures, higher-income individuals may also have an interest in getting paid based on their needs rather than a calendar date.
Highlights of the report include:
- The current market drivers for on-demand earned wage access
- How earned wage access and earned wage advance products function
- Sizing of the current market for this service
- Current regulatory considerations
- Reviews of seven providers, each including a company overview and a product review
- Advice for buyers and providers of these services
Key Topics Covered:
1. Executive Summary
2. Introduction
- Methodology
3. Market Overview
- What Is Driving Market Growth?
- Benefits
4. Sizing the Market for Earned Wage Access
5. Regulation
6. Features and Functions Summary
7. Individual Vendor Reviews: Earned Wage Access
- Branch
- DailyPay
- FlexWage
- Instant Financial
- PayActiv
8. Comparing Earned Wage Access Company and Product Attributes
9. Key Considerations for Employers and the Providers Recommended
10. Individual Vendor Reviews: Wage Advance
- Dave
- Earnin
11. Conclusions
- Advice for Buyers
- Advice for Earned Wage Access Providers
12. References
- Related Research
- Endnotes
Companies Mentioned
- Acrisure
- Blue Yonder
- Branch
- DailyPay
- Dave
- Delaget
- Earnin
- Evolve Bank and Trust
- FlexWage
- Instant Financial
- Kronos
- Mastercard
- PayActiv
- The Clearing House (TCH)
- Visa
For more information about this report visit https://www.researchandmarkets.com/r/xg5gto
Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.