Chime has acquired Salt Labs to accelerate Chime’s growth through the employer channel. The resources of Salt Labs, an enterprise technology company whose flagship product is an employee rewards benefit, will help draw new members to Chime’s banking services platform, the companies said in a Wednesday...
DailyPay CEO Kevin Coop will step down from that position to pursue other endeavors and serve as a board advisor for the company. The WorkTech firm’s chief operating officer (COO), Stacy Greiner, will succeed Coop and serve as interim CEO, effective June 1, DailyPay said...
Chime will soon add an earned wage access offering called MyPay to its banking app. The FinTech company has opened a waitlist for MyPay and will begin onboarding “soon,” according to a Wednesday (May 15) press release. With MyPay, qualifying Chime members will be able...
Marqeta’s latest results and commentary showed momentum in the company’s transaction processing operations — and opportunity in nascent markets such as earned wage access. CEO Simon Khalaf said the company’s efforts and value for its corporate clients span the “spectrum of integrated payment options” across...
February 09, 2024
The debate between regulators and FinTechs over the state of earned wage access (EWA) innovations looks set to heat up through the next several months. In a Feb. 7 letter to Consumer Financial Protection Bureau (CFPB) Director Rohit Chopra, the American Fintech Council urged that a meeting be set up with “relevant stakeholders” to have […]
July 13, 2023
Payroll is one of the most critical functions of any workplace, ensuring that employees are paid on time and in the correct amounts. Delaying these paychecks can have massive detrimental...
January 27, 2023
Sixty-three percent of Americans were living paycheck to paycheck as of November, up from 60% the month prior, according to a recent report. Low wages do not entirely explain this...
December 01, 2020
The U.S. Consumer Financial Protection Bureau issued an advisory opinion Monday (Nov. 30) that earned wage access (EWA) products do not represent extensions of credit under one of its key...
June 27, 2024
Chime has acquired Salt Labs to accelerate Chime’s growth through the employer channel. The resources of Salt Labs, an enterprise technology company whose flagship product is an employee rewards benefit, will help draw new members to Chime’s banking services platform, the companies said in a Wednesday (June 26) press release. “Through this acquisition, we will aim to […]
May 28, 2024
DailyPay CEO Kevin Coop will step down from that position to pursue other endeavors and serve as a board advisor for the company. The WorkTech firm’s chief operating officer (COO),...
May 15, 2024
Chime will soon add an earned wage access offering called MyPay to its banking app. The FinTech company has opened a waitlist for MyPay and will begin onboarding “soon,” according...
April 18, 2024
Marqeta is expanding its earned wage access program with assistance from financial wellness provider Rain. The card-issuing platform announced its collaboration with Rain Thursday (April 18), with Marqeta powering the Rain Card,...
