July 10, 2019
Infographic courtesy of Mastercard
Mastercard announced that it is using Mastercard Send technology to give hourly and gig workers early access to their earned wages under a partnership with Evolve Bank & Trust, which provides the service with Branch.
The Mastercard Send push payments technology moves funds from these paycheck advances directly onto debit cards to give them access to their earned income.
"Gig workers provide just-in-time services that help both consumers and businesses fulfill real-time needs," Jess Turner, executive vice president, product and innovation, North America at Mastercard, said in a company release. "But when it comes to getting paid, they are stuck in a traditional model of work now, get paid later."
Branch announced a service in March that gives hourly workers advance access to their earned wages.
Topics: Card Brands, Mobile Banking, Mobile Payments
Companies: MasterCard, Evolv
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