EWA Supports the Gig Economy
Earned Wage Access has proliferated alongside the rise of the gig economy. Companies have disrupted traditional industries and given rise to flexibility for people to work – and earn money – when they need to.
A recent Pew study revealed that roughly 6 in 10 gig workers say the money they earned through EWA platforms over the past 12 months has been essential (23%) or important (35%) for meeting their basic needs.* Another study found that 72% of gig workers will turn on their app to work hours when they need extra money.**
Many gig economy workers prefer the option to earn and receive money when they need it. But, gig workers are classified as independent contractors and often don’t qualify for many protections under U.S. labor law.
Earned Wage Access challenges this. By offering on-demand pay, employers are leveling the playing field for workers in different situations who would benefit from having more control of their money.