Wal-Mart to Allow Workers Early Access to Pay Via Fintech Accord

Wal-Mart Stores Inc., working with two financial-technology startups, will allow its 1.5 million-strong U.S. workforce to draw on their salary ahead of payday—or squirrel some of it away for a rainy day.

The world’s biggest retailer has unveiled financial-planning tools designed by Silicon Valley-based PayActiv Inc. and Even Responsible Finance Inc., a move that lets its employees access earned wages ahead of scheduled paychecks and avoid bounced checks or payday lenders.

Staffers will receive eight free uses a year of the Instapay tool via Even’s personal-finance app, which is linked to the employee’s checking or prepaid account and Wal-Mart’s payroll ...