What Is On Demand Pay / Earned Wage Access?

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What Is On Demand Pay / Earned Wage Access?

There's been this mega-trend, mega-shift happening around how people get paid.

My daughter comes home from a babysitting job, she's paid Venmo on the car ride home. This is how the workforce is starting to get used to getting paid.

And I think you have these two kinds of worlds colliding. In this new capability, in the parallel world called, “Earned Wage Access” and “On Demand Pay.”

This is a term that people are starting to get used to more and more. But how would you define On-Demand Pay or Earned Wage Access? There's a whole bunch of acronyms for this.

So I would describe On-Demand Pay exactly how you described your daughter getting paid after a babysitting shift. I think that was so well said.

It’s the concept of getting paid when you need it and when you want it.

It's archaic to have to wait two weeks for a paycheck. Of course, it makes sense, there's a lot of administration that needs to occur. There's a lot of moving parts and everything else.

But as an employee, On-Demand Pay is this concept of getting paid when you want and when you need.

Typically, that's as much as every day, or it could be just when that employee is in a cash flow crunch and needs to access pay in between paychecks.

View this entire video:    • The Truth About On-Demand Pay - What ...  

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Host: Mike Vannoy, VP of Marketing at Asure

Expert panelist: Tate Hackert, Co-Founder & President of ZayZoon
https://www.zayzoon.com/

#OnDemandPay
#EarnedWageAccess
#SmallBusiness

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