FlexWage provides an employer‑integrated Earned Wage Access platform that lets employees withdraw a portion of their accrued wages on demand, with funds delivered instantly via a mobile app, Visa‑branded prepaid card, or Zelle.
Funding
Funding not disclosed
Founders
Product
Problem
Many employees lack immediate access to earned wages between pay periods, leading to reliance on costly short‑term loans, overdraft fees, and financial stress that can affect retention and productivity.
Solution
FlexWage offers an employer‑integrated Earned Wage Access (EWA) platform that lets workers withdraw a portion of their accrued wages on demand, without borrowing or interest. The system calculates earned wages daily from payroll and time data, and transfers requested funds instantly to a FlexWage mobile app, a Visa prepaid payroll debit card, or directly to a bank account via Zelle. Withdrawals are automatically deducted from the next paycheck, and the platform can be configured for limits on amount, frequency, and fees per employer. In addition to OnDemand Pay, FlexWage provides a prepaid Pay Card that delivers the full paycheck on payday and enables free ATM access, bill payment, and fund transfers. The combined solution aims to reduce overdraft incidents, improve employee financial wellness, and increase workforce retention.
Target Audience
FlexWage’s primary customers are midsize to large employers and HR leaders seeking to add a financial‑wellness benefit that reduces employee financial stress and improves retention.
Features
- Real‑time earned wage calculation using integrated payroll and time‑tracking data
- OnDemand Pay mobile app for instant withdrawals, with employer‑defined limits and fee structures
- Visa‑branded prepaid payroll debit card that receives the full paycheck on payday and offers free ATM access at 55,000 Allpoint locations
- Direct‑to‑bank payout option via Zelle for instant wage delivery
- Automatic deduction of withdrawn amounts from the subsequent payroll cycle, eliminating interest or repayment schedules
- Employer dashboard for configuring policies, monitoring usage, and accessing analytics on financial wellness impact
- Compliance‑focused design that operates as a non‑loan cash‑flow acceleration solution, exempt from lending regulations