March 28, 2023 | 2 min read
Marqeta & WorkWhile partner on accelerated wage access
We’re thrilled to announce our partnership with WorkWhile to power accelerated wage access to its workers with a new debit card solution. WorkWhile helps hourly workers connect to open shifts in 17 states across the US and provides flexibility and benefits such as faster access to pay, free virtual healthcare services and pay transparency.
Through this new partnership, WorkWhile workers can access their wages as soon as their shift hours are approved, helping to significantly reduce their need for credit and improving their financial well-being. We are working together with WorkWhile to make the cards available by Q3 2023, allowing them to have faster-than-ever access to their earnings, instead of having to wait for a weekly paycheck or long digital transfers.
“We have been a worker-first company since our inception, and the financial well-being of our workers has always been a top priority,” said Jarah Euston, CEO and Co-Founder of WorkWhile. “Getting workers faster access to their earnings has always been a core value of the WorkWhile platform. By offering this new card, in partnership with Marqeta, we are able to give workers instant access to their earnings—significantly enhancing their lives and improving their financial peace of mind.”
As the economy responds to the dual strains of rising inflation and shifts in access to credit, total processing volumes for our customers offering accelerated wage access has grown 100% quarter over quarter. WorkWhile’s third-annual flexible worker survey, launched today March 28, 2023, shows that flex work continues to remain popular with workers. The majority of surveyed workers, 73%, said that flexible work pays at least as much, or more, than traditional work. When asked about their earnings, 63% of workers reported that more than half their income comes from flexible work, while one in three respondents said that over 75% of their annual income comes from flexible work—reinforcing the value of faster-than-ever access to their earnings. Only 8% of surveyed workers said they prefer traditional work to flexible work.
We are honored to work with WorkWhile to power a new debit card that will give its workers faster access to their wages. Alongside powering WorkWhile’s new debit card, our modern card issuing platform will allow WorkWhile workers to tokenize the card instantly into a mobile wallet, and the company will handle KYC onboarding of cardholders and disputes. Learn more about our banking solutions here.