Mastercard and Evolve Bank & Trust Help Hourly and Gig Workers Get Early Access to Wages

  • Payments
  • 10.07.2019 11:16 am

People who support themselves and their families with incomes from gig and hourly work often have to stitch together earnings from various sources to pay bills, budget for savings and manage financial emergencies. Mastercard today announced that it is using Mastercard Send, the company’s push payment solution to enable pay advances and blend stability with flexibility for those working without traditional paychecks.

“Gig workers provide just-in-time services that help both consumers and businesses fulfill real-time needs,” said Jess Turner, executive vice president, Product and Innovation, North America, Mastercard. “But when it comes to getting paid, they are stuck in a traditional model of work now, get paid later. With Mastercard Send, we want to provide a new wage system – one that is in tune with the workforce of today.”

Mastercard is partnering with Evolve Bank & Trust (“Evolve”) to support companies such as , which work with large organizations to provide interest-free, pay advances to their hourly workers and gig workers. Working with employers, Branch provides early wage access so that employees can manage any lag between when bills are due and when the paycheck is received. With Mastercard Send, Branch can push funds in near real time to U.S. debit cards.

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