Now, one of the industry leaders in space is getting involved in the red-hot trend.
From the emergence of the gig economy to today's remote working environment, workers are increasingly looking for choice in the way they're paid, Reany said. Her latest project is ADP's earned wage access pilot, which enables employers to give employees access to a portion of their wages between paychecks. Reany declined to disclose how many of ADP's customers are participating in the EWA pilot.
For consumers living paycheck-to-paycheck, the timing of bills and expenses doesn't always line up with payday, and that means they're incurring otherwise avoidable fees. And Reany says that avoiding these fees is one of the reasons ADP is looking to add this earned wage access feature to its platform.
Employees' concerns over privacy, whether real or perceived, have informed much of ADP's work when it comes to employee financial wellness. Here's the 11-slide pitch deck an instant-pay startup used to raise a $4.5 million seed round led by Upfront Ventures
Solve this puzzle: A report from the Economic Policy Institute estimated that employees lose $15 billion to wage theft every year, more than all of the property crime in the United States put together.
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