04:05 AMERICAS
The traditional payday transfer is being upended by the increasing popularity of earned wage access (EWA), also called on-demand pay or daily pay, especially in the USA. Earned Wage Access in the USA: How We Got Here
Author: Michael Baer Michael Baer is president of Baer Unlimited, an independent research, analysis, and communications advisory service that helps payroll modernize operations, stay compliant, and improve the use and security of their data. For more on these issues, book Michael as a mentor through the GPA Mentor page , or contact him directly at mike.baer@ baerunlimited.com .
A decade ago, the loans simply gone online, with unique wrinkles. Initially prevalent in the gig economy—allowing drivers to receive instant passenger payments—the idea expanded to traditional employees to solve the friction of paydays not aligning with immediate expenses. Tools were developed allowing individuals to see what they likely had earned so far from their work, and introduction of EWA was interpreted by many, including myself, as payday
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GLOBAL PAYROLL MAGAZINE ISSUE 23
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