Rise in Earned Wage Access App Usage in the U.S. and Expanding Financial Risks
- 1As of 2024, more than 10 million Americans use 'earned wage access' tools.
- 2Consumers incur an average annual fee or tip of approximately $208.
- 3A 90% increase in earned wage access transaction volume was recorded between 2021 and 2022.
So what's the key point?
More than 10 million people in the U.S. use services to receive their paychecks early. Using this service costs an average of about $208 per year.
Source Fortune · View original ↗
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