BROOKFIELD, Wis.–Fiserv has announced that on-demand payment pioneer FlexWage Solutions is expanding the ways wage earners can receive their pay to “align with how people live and work today.”
In addition to being able to access their pay on-demand via a FlexWage-branded card, earners can now send their pay directly to their checking accounts at the time of their choice via Fiserv technology, the company said.
“Life does not revolve around two-week pay periods,” said Frank Dombroski, CEO of FlexWage. “A car repair or medical expense often can’t wait, and not being able to pay is extremely stressful. Having access to their money when it is earned can improve not only people’s financial well-being, it can improve their entire lives.”
Fiserv said by leveraging Digital Disbursements, FlexWage is now able to reach more people with more options to receive their pay. FlexWage utilizes Digital Disbursements to enable money to move in real time to a checking or savings account via a direct push to the debit card the individual uses to access their checking account, according to Fiserv.
Reaction to Gig Economy
“As the gig economy grows and consumer expectations for speed, ease and convenience increase, there is significant demand for real-time access to earnings,” said Tom Allanson, president, Electronic Payments, Fiserv. “FlexWage continues to be ahead of the curve in helping people maintain control of their finances by providing them access to their money when they need it.”
FlexWage allows workers can access pay they have already earned, and employers are able to place limits on the number of times pay can be accessed to help promote responsible use.