LOS ANGELES, Calif. — Tapcheck, a simple and easy-to-integrate financial wellness benefit that allows employers to give employees the ability to access their earned wages before payday, has experienced strong growth since first launching. In 2020 alone, Tapcheck saw 863% growth, with exponential adoption in the in-home care and quick-service restaurant (QSR) industries. Forward-thinking employers in sectors hard-hit by the pandemic have helped their workers pay bills, cover unexpected costs, and more at a time when financial uncertainty is at an all-time high.
“The financial impact of the pandemic has left both employers and employees facing significant and unforeseen financial challenges. Employees need more flexible access to their money, while employers want to provide easy-to-adopt financial wellness benefits without a high price tag,” said Kayling Gaver, Co-Founder of Tapcheck. “Tapcheck delivers on both fronts without gimmicks, high fees, or hidden charges, and we’ve seen incredible growth as a result.”
Tapcheck gives employers a convenient and cost-free way to offer their workers same-day pay. It is easy to integrate into existing payroll systems so employers can adopt it without having to create new systems. The application itself boasts a clean and simple interface, allowing employees to quickly and securely access a percentage of the wages they’ve earned for the pay period for one, flat charge similar to an ATM fee. This gives employees financial flexibility to cover a bill that is due in the middle of a pay cycle, or another emergency expense right away without having to take on more credit card debt, overdraft fees or late fees, or high-interest personal loans.
Since first launching in July 2019, Tapcheck has established a clear foothold in the earned wage access category, signing major players including Burger King, Dunkin’, Little Caesars, Home Instead Senior Care, and Comfort Keepers, ultimately giving employees the potential for on-demand access to their wages via its easy-to-use app. In addition to its adoption across the in-home care and QSR industries, Tapcheck has also signed on employers across a diverse range of businesses including Metro by T-Mobile and Comfort Inn, as well as hospitals, manufacturers, grocers, retailers, and professional services.
“In a competitive marketplace, Tapcheck is a resource that helps to differentiate us to be the Employer of Choice,” said Roy Wu, Home Instead Senior Care franchise owner. “Tapcheck is allowing us to hire and retain Caregivers by providing them access to funds, especially during this COVID pandemic.”
Recent attention around and interest in the earned wage access category overall demonstrates the increasing desire for employers to deliver financial wellness benefits to their workforces, but it also underscores a mindset shift that employees want the ability to easily and safely access their earned wages when they need them most without penalty. For more information about Tapcheck, please visit www.Tapcheck.com.
About Tapcheck
Launched in 2019, Tapcheck’s mission is to improve financial wellness, empower employees, and boost business performance. Tapcheck’s on-demand pay solution improves retention, recruitment, productivity, employee wellness, and company culture at no cost or risk to the employer.
For more information, visit https://www.tapcheck.com/
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