InstantWage™ is a new on-demand pay feature available exclusively to Cardplatforms’ clients, that allows cardholders to instantly* access their earned but unpaid wages.
Cardplatforms announced that its long-standing partner Kittrell Paycard, a leading provider of prepaid payroll cards to the staffing industry, has launched InstantWage on all of its payroll cards. InstantWage is a new feature that allows cardholders to immediately* transfer a portion of their earned but unpaid wages to their payroll card so they no longer have to wait until payday. An unexpected expense or short-term cash volatility no longer have to force employees to turn to predatory lending products that charge high fees and interest rates.
Through Kittrell Paycard’s extensive network of staffing company clients, InstantWage will be available to tens of thousands of employees across the country to help them fight the effects of financial stress. To take advantage of the benefits of InstantWage, employees must have a Kittrell Paycard.
The pain of employee financial stress isn’t felt by just employees. It also substantially impacts the employer and their bottom-line. Research has proven that cash-strapped employees get less done, call out sick more often and are more likely to look for another job. By offering InstantWage, employers can not only help employees improve their overall financial health but they can also increase worksite productivity, reduce absenteeism and improve retention.
“One of the biggest strengths of our Blu Box technology platform is its ability to easily add new products and features like InstantWage to help our clients stay on the cutting edge of payments innovation,” said Darin Petty, President and COO, Cardplatforms. “InstantWage is transforming how companies pay wages to meet the changing needs of today’s employee.”
“We believe InstantWage will prove to be a great competitive advantage for our clients, as it will help them increase productivity and attract the best team members,” said Mary Kittrell-Kinkaid, CEO, Kittrell Paycard. “For our hardworking cardholders, InstantWage is a powerful financial wellness tool that will make a difference in their lives instead of pushing them into a vicious cycle of re-borrowing.”
InstantWage is exclusively available to Cardplatforms’ clients. To learn more about InstantWage, visit www.cardplatforms.com/Instantwage.
Cardplatforms® delivers impactful payment solutions to underserved populations and markets, where traditional financial services have failed to provide affordable and convenient options. Leveraging a unique blend of industry expertise and proprietary technology, we design and develop white-label solutions for payroll, corporate expenses, incentives, government benefits, legal settlements and insurance claims that are specifically tailored to the needs our partners and their consumers. Our experience navigating an ever-changing payments landscape, combined with the control provided by our Blu Box™ technology platform, allows us to fully customize programs and get them launched faster. Learn more at cardplatforms.com.
About Kittrell Paycard
Kittrell Paycard is a leading payroll card provider to the staffing industry. Founded in 2005 by staffing industry veteran Mary Kittrell-Kinkaid, Kittrell Paycard distributes payroll card programs designed specifically to meet the unique needs of staffing agencies and their temporary employees. Learn more at kittrellpaycard.com.
*Website or network connection issues may delay InstantWage funding.
**InstantWage provides employers with the funds for employee InstantWage payments. All InstantWage funds and fees pass through the employer’s InstantWage Master Funding Account, so there is no net cost to the employer.