Fiserv,
Inc. (NASDAQ:FISV), a leading global provider of financial services
technology solutions, announced today 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.
“Life does not revolve around two-week pay periods,” said Frank
Dombroski, Chief Executive Officer, 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.”
By leveraging Digital Disbursements from Fiserv, 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.
“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 pioneered OnDemand Pay in 2010, and has a focus on financial
empowerment, offering financial benefits like budgeting, planning, and
live advice. With FlexWage, 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.
In order to access their earnings, workers log into the FlexWage app and
move available funds to their FlexWage pay card or to their checking
account. FlexWage is used by workers across a wide variety of income
levels and industries.
In a world moving faster than ever before, Fiserv helps clients deliver
solutions in step with the way people live and work today – financial
services at the speed of life. Learn more at fiserv.com.
Digital Disbursement Services are provided by or through CheckFreePay
Corporation (NMLS ID#908760), a licensed money transmitter, and/or its
affiliate CheckFreePay Corporation of New York, which is licensed and
regulated as a Money Transmitter by the New York State Department of
Financial Services, each a wholly owned subsidiary of Fiserv, Inc.
About FlexWage Solutions
FlexWage Solutions provides a variety of employer-sponsored financial
wellness and empowerment services, including:
-
OnDemand Pay, the industry’s only patented, non-loan solution.
OnDemand Pay provides employees with responsible access to their
earned wages prior to payday. OnDemand Pay improves quality of life
for employees and their families by eliminating the expense and
emotional impact of costly bank overdraft and predatory lending fees.
Employers realize increased employee productivity, satisfaction and
retention. -
Sum180, a subscription-based mobile financial wellness service
featuring gamified mobile setup, tips, and easy budgeting; highly
personalized, right-sized Next Steps with how-to information, mobile
tracking, and notifications; coaching from financial advisers; and
peer support through an online subscriber community. -
FlexWage Payroll Debit Card, a reloadable Visa-branded payroll card
funded each pay period with employees’ earnings; ideal for employees
unable to use direct deposit, including temporary, part-time,
contracted, and unbanked employees. -
FlexPay, a technology solution that enables immediate delivery of
non-recurring payments, such as tips, per diem and expense
reimbursement.
For more information about FlexWage Solutions, please visit https://flexwage.com/.
About Fiserv
Fiserv, Inc. (NASDAQ:FISV) enables clients worldwide to create and
deliver financial services experiences in step with the way people live
and work today. For 35 years, Fiserv has been a trusted leader in
financial services technology, helping clients achieve best-in-class
results by driving quality and innovation in payments, processing
services, risk and compliance, customer and channel management, and
insights and optimization. Fiserv is a member of the FORTUNE®
500 and has been named among the FORTUNE Magazine World’s Most Admired
Companies® for six consecutive years, recognized for strength
of business model, people management, social responsibility and
innovation leadership. Visit fiserv.com
and follow
on social media for more information and the latest company news.
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