Wagestream's mission is to eradicate the poverty premium, which costs frontline workers an extra £5.8 billion per year in the UK. The poverty premium breaks down into higher insurance premiums, higher energy tariffs, higher cost of credit, non-standard billing methods, use of pre-payment meters, insurance for individual items, and ATM fees. Wagestream's first product is Earned Wage Access (EWA), which allows employees to access their pay immediately after earning it instead of having to wait until the end of the month, and removes the need for payday loans. They now aim to systematically rebuild financial services from the ground up to be fair for all.
Sustainability at Wagestream
We at Wagestream are committed to ending poverty by providing financial services that are fair for all. Our Earned Wage Access (EWA) product helps to alleviate the poverty premium faced by frontline workers, eliminating the need for payday loans and making it easier for employees to access their earned wages. Through our innovative solutions, we aim to lift millions of people out of poverty and create more inclusive financial systems.