Is it possible to give my customers early wage access?

The rising cost of living, the stagnant minimum wage, and – this year especially – job insecurity have all given rise to the demand for early wage access. 

A recent advisory opinion from the Consumer Financial Protection Bureau distinguishes earned wage access (EWA) from an extension of credit. 


The benefits of early wage access

Giving customers early wage access is a benefit program provided by an employer, usually through a third party benefit provider. 

An additional qualification of early wage access is that it is a free benefit; the employee pays no fees, interest or tips for the service. 

The employee is only given access to funds equal to the amount earned through unpaid hours worked within the pay period. 

Because early wage access is not considered a line of credit, there is no credit check performed to qualify. 


How much is early wage access used?

Recent research from Cornerstone Advisors suggests that nearly nine million Americans aged between 21 and 54 receive early wage access.

Benefit providing companies are reporting experiencing early adoption and steady growth when partnering with employers. 

Earnin, PayActiv and DailyPay are among some of the top U.S. companies working with employers to help give employees early wage access on demand. 


How can Atomic help you provide customers with early wage access?

Atomic is powering the services of EWA adopters through our payroll API

Our infrastructure allows them to connect directly into the payroll system, reducing onboarding friction with the employee. 

Our SDK lives inside the applications of fintechs and neo-banks, and, through employee credentialed access, connects directly to the employee’s payroll system in a secure and seamless manner. 

From here, our customers can see the information necessary to offer early wage access, such as number of hours worked, length of time employed, and rate of pay.


If you would like to find out more about how Atomic can help you provide early wage access to your customers, get in touch by filling out the form at the bottom of this page or request a demo today.



Q1 2020 survey of 2,587 US consumers SOURCE: CORNERSTONE ADVISORS