Clair Brings Earned Wage Access To Gusto Clients
Earned wage access fintech Clair has partnered with payroll, benefits, and HR management solutions company Gusto.
Under the agreement, employees at many of Gusto’s 300,000 supported businesses will be offered access to On-Demand Pay via Gusto Wallet.
Gusto is Clair’s first partner to announce participation in the new embedded EWA product.
Embedded earned wage access provider Clair and payroll, benefits, and HR management solutions company Gusto are teaming up this week. The partnership will allow Gusto to offer earned wage access (EWA) to their small business clients.
Founded in 2019, Clair offers an embeddable EWA tool. Clair’s clients, which include Trinet, 7Shifts, syncHR, use the EWA tool to help their combined 12,000 business customers offer their employees earlier access to their paychecks with no interest. Once employees set up a Clair spending account, they can receive a paycheck advance at any time for hours they’ve already worked.
Clair offers end users banking services powered by Pathward, N.A., including a virtual and physical Mastercard debit card, access to fee-free ATMs, and does not charge monthly service fees or require a minimum balance.
“Emergency expenses often arise and employees need a secure and convenient way to cover those unexpected costs,” said General Manager and Head of Product at Gusto’s Members business unit Dan Loomis. “Due to these needs, we decided to add an on-demand pay offering to Gusto Wallet and knew it would be crucial to find the right partner to bring it to life in a seamless, compliant way. We evaluated all the major players in the EWA space and Clair stood out as our ideal partner, bringing both the compliance framework and technical capabilities we need to offer wage advances right inside our existing app. We’re proud of this industry-leading collaboration that expands the possibilities of embedded financial wellness benefits.”
Under today’s partnership, employees at many of Gusto’s 300,000 supported businesses will be offered access to sign up for On-Demand Pay via Gusto Wallet. The company anticipates the move will help employees increase prosperity by delivering not only earlier access to their pay, but also to financial and work productivity tools. Gusto is Clair’s first partner to announce participation in the new embedded EWA product.
Gusto was founded in 2011. Originally known as ZenPayroll, Gusto provides a cloud-based payroll, benefits, and HR management solution. The company’s tools help businesses with things like time and attendance, hiring and onboarding, talent management, and more. Company co-founder Joshua Reeves is CEO.
Photo by Karolina Kaboompics
The post Clair Brings Earned Wage Access To Gusto Clients appeared first on Finovate.
https://lnkd.in/gTVkNfYH
via Finovate https://finovate.com/
July 16, 2024 at 07:19PM
![]()
2
