Payments News

On The Web

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Domains

Pandemic creates big audience for wage access fintechs

“The pandemic has unleashed a boom in US fintech start-ups offering workers early access to their wages, even as questions mount about the impact their business models have on consumers.  So-called earned wage access programs vary in nature, but usually offer workers the option to receive some of their wages outside of the two-week pay […]
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Domains

Apps Will Get You Paid Early, for a Price

“Americans have become accustomed to summoning just about anything on demand, from groceries to car rides. Now it’s just as easy to get paid when you want. As the coronavirus pandemic squeezes household budgets, workers and employers alike are increasingly turning to pay-advance apps with friendly-sounding names like Earnin, Dave, Brigit and Rain. They allow […]
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Domains

Gusto Is Expanding from Payroll Into a Full Suite Financial Wellness Platform

“Today, the company announced a slew of new offerings that it hopes will give employees better financial and health options through their employers.   The most interesting one here is a tool the company is calling Gusto Wallet. It’s an app and collection of products for employees paid through Gusto that basically acts as a […]
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On The Wires

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Deals

Argyle Raises $20M Series A Led By Bain Capital Ventures

“Today, most workers do not have open access to their own employment records; there are no national standards on how these records are stored or organized. Opportunities, products, and services are inaccessible because consumers are unable to validate employment information.Argyle is building an access gateway into employment records to change this flawed status quo. Our […]
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Domains

Clair, a Social-impact Fintech Raises $4.5m Seed Round to Disrupt the Payday Lending Industry by Providing Free Instant Pay to Hourly and Gig Workers

“Clair, an early stage fintech startup based in New York City, wants America’s 82 million hourly workers and 57 million gig workers to get paid as quickly as Uber pays their drivers today: instantly…With the surge in unemployment brought about by the pandemic, nearly 40% of Americans said they would struggle to cover an unexpected […]
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