InComm Payments Invests in Instant Financial, Establishes Strategic Partnership Supporting Earned Wage Access
The employment landscape remains uncertain for much of the population, with over 70% of millennials living paycheck to paycheck* – leaving them unsure whether they’ll be paid before bills are due, or whether they’ll have to take refuge take to high-interest lenders. With Instant’s EWA solution, employees have the option to have some of their own money at their disposal after each shift, avoiding waiting for biweekly payment periods.
For employers, Instant is a proven solution to help organizations attract and retain talent by providing instant access to wages and giving employees complete control over their finances. By reducing financial stress and increasing financial freedom, Instant’s solution can positively impact key HR performance metrics for the organization. Instant customers have even seen a 20-30% drop in turnover and absenteeism.
“In today’s new economic environment, organizations looking to expand their workforces are faced with changing employee expectations,” said Tal Clark, CEO of Instant Financial. “Employees are looking for ways to access their hard-earned pay faster and easier, and Instant Pay offers it for free to both employers and employees, without disrupting their existing payroll processes.”
“We are excited to invest in a company that is transforming the modern economy by making resources available to employees when they need them most,” said Adam Brault, senior vice president of financial services at InComm Payments. “Instant helps companies attract and retain the best talent.”
To learn more about the financial wellness solutions Instant offers, visit www.instant.co.
*PYMNTS.com | The Paycheck-to-Paycheck Report: The Impact of a Changing Economy, June 2021
About InComm Payments
InComm Payments is a global leader in innovative payment technology. Leveraging dynamic technology and proven expertise, InComm Payments delivers enhanced end-to-end payment platforms and emerging financial technology solutions that help businesses grow in a wide variety of industries, including retail, healthcare, tolling and transit, incentives, mobile payments and financial services. By enabling omnichannel connections to an ever-expanding consumer base in an increasingly digital ecosystem, InComm Payments creates seamless and valuable commerce experiences around the world. With more than 29 years of experience, more than 500,000 distribution points, 402 worldwide patents and a presence in more than 30 countries, InComm Payments leads the payments industry from its headquarters in Atlanta, Georgia. Learn more at www.InCommPayments.com.
About Instant Financial
Instant Financial leads the way to provide financial freedom and wellness to millions of employees in the United States through its solutions for access to earned wages. By enabling employers to give employees access to their daily pay immediately after their shift, Instant Financial helps organizations improve retention and reduce absenteeism, while empowering employees to take control of their financial freedom by bridging the gap between workday and payday . Learn more about Instant Financial at www.instant.co.
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SOURCE InComm Payments