With banks slow to offer consumers alternatives to payday loans despite encouragement from regulators, a small but growing group of non-bank lenders is working with U.S. employers to offer small-dollar financing tied to wages.
United Way began offering the platform of Salary Finance, operating in the U.K. since 2015, to its employees in October and is connecting it with some of the Fortune 500 companies the charity has partnered with for decades. Walmart Inc. partners with PayActiv, a San Jose, Calif.-based fintech, to offer pay advances to its 1.4 million employees. Uber drivers can digitally cash out on their hours ...
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