Payments News


Gates and Bezos back UK startup bidding to end payday poverty cycle

“A major reason for so many people struggling towards the end of the month is that the vast majority of Brits – unlike Americans – are paid monthly. Wagestream is promising to help solve this by letting people access their ‘earned income’ at any time during the pay cycle. An app shows each employee how much they have earned for each hour worked and lets them transfer these earnings instantly to their current account for a one-off fixed fee of £1.75. The money is then deducted from the next wage packet.”