US-based fintech Clair has partnered with Gusto , a platform that automates payroll, benefits, and HR, to offer On-Demand Pay via the Gusto Wallet. Through this collaboration, Clair and Gusto are breaking ground on a technology-first solution in the Earned Wage Advances (EWA) industry, offering employees at Gusto’s 300,000 supported businesses access to sign up for On-Demand Pay via Gusto Wallet, which helps employees increase prosperity by delivering financial and work productivity tools.

Augmenting financial wellness benefits This new product and partnership have launched at a time when employers are increasingly turning to financial wellness benefits to attract and retain talent. About 80% of employers offering financial wellness benefits to employees in 2023 said they planned to invest even more in these perks in 2024. In alignment with this trend, EWAs are some of the most requested features by employees using Gusto Wallet.

To meet this growing demand, Gusto is partnering with Clair to leverage the advanced lending infrastructure and compliance framework developed by the fintech team since 2021. This collaboration provides a robust and seamless solution for EWA in a changing regulatory environment. Gusto selected Clair for its compliance framework and technical capabilities.

Powered by its partnership with national bank Pathward, which is the entity issuing all the advances directly to the consumers, Clair is an EWA provider offering bank-issued EWA with no interest. The company already partners with over a dozen workforce management platforms to provide On-Demand Pay to their connected users and facilitates millions of dollars in EWAs every month. Officials from Gusto said that emergency expenses often arise, and employees need a secure and convenient way to cover those unexpected costs.

Due to these needs, they decided to add an on-demand pay offering to Gusto Wallet and knew it would be crucial to find the right partner to bring it to life in a seamless, compliant way. Clair stood out as an ideal partner, bringing both the compliance framework and technical capabilities they need to offer wage advances right inside their existing app. Clair’s On-Demand Pay feature has already begun rolling out to Gusto members, who have access to a variety of financial benefits in Gusto Wallet, which include interest-bearing accounts backed by FDIC-insured bank nbkc, a debit card for purchases or cash withdrawals from ATMs, and budgeting and tax tools.

This new collaboration expands on Clair and Gusto’s existing partnership with Gusto Embedded, the company’s payroll API, which provides EWA to workforce management platforms that are adding payroll processing for their users. With the new Clair On-Demand Pay feature, Gusto Wallet Premium members can: See in the mobile app how much of their paycheck they can access; Access a portion of their earnings each day; Avoid a credit pull, which can affect credit scores; Automatically repay their EWA when their next paycheck arrives. .