FlexWage - Company Profile

Flexwage provides innovative payroll card solutions to individuals and companies. The two main product offerings are Payroll cards and WageBank. It provides employees responsible access to short term money between regularly scheduled paydays. As such, it provides financial access to unbanked and underbanked populations benefiting workers. The difference the firm brings is that it removes the high cost of pay day loans and there is no interest associated with the WageBank product. WageBank interfaces with employers’ HRMS, providing employees access to earned wages in advance of their scheduled paydays thereby eliminating the need for costly predatory loans. Employees can take payment for wages they have earned but have not yet been paid and load the payments directly onto their payroll cards within seconds. Through its policy engine, employers manage velocity and disbursement value settings for WageBank access.