Immediate plans to improve millions of Americans' financial well-being by delivering on-demand access to earned wages, working directly with employers to make this benefit available to employees.
FREMONT, CA: Immediate, a financial wellness company, declared a new integration with Visa that would allow workers and users of its earned wage access services to receive requested funds directly onto an eligible debit card in real-time via Visa Direct, Visa's real-time push payments platform. Any eligible existing Visa debit card can be linked in the ImmediatePay app, allowing users to transfer and use the money on the card in real-time.
Immediate plans to improve millions of Americans' financial well-being by delivering on-demand access to earned wages, working directly with employers to make this benefit available to employees. Through Immediate's financial institution and the integration of Visa Direct, employees who utilize the service can now add a Visa debit card to their account and can opt to receive funds on their debit card at any day or time, including holidays and weekends, making earned wages quickly available for emergency expenses. Besides, funds can also be transferred directly to an individual's bank account or to a debit card provided by Immediate.
"Workers who request early access to their earned wages often need the money quickly, especially if it's for a health emergency, car repair, or other unforeseen expense," stated Matt Pierce, Immediate's co-founder and CEO. "We're very excited to launch this new integration with Visa because it gives users more convenient access to their earned pay whenever they need it, without having to worry about banking hours or holidays."
"We understand the challenges all workers – whether hourly or salaried, part- or full-time – are facing right now," continued Pierce. "Millions of Americans were already living paycheck to paycheck before the pandemic. Those who still have jobs are working fewer hours, and 21% report a decline in earnings. Through our integration with Visa, we're bringing together the convenience of our earned wage access with the scale and security of the Visa network, to help ensure our users can meet their financial needs while ultimately building financial health."
