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Advance pay service might reduce usage of pay day loans

Americans take down approximately $50 billion in pay day loans a each racking up hundreds of dollars in fees and interest year. But a tiny and growing solution that permits its users to simply simply take an advance on the paycheck may be providing the cash advance industry a run for the money.

San Francisco-based monetary technology business also made headlines later this past year when Walmart, the country’s biggest personal boss, announced it can begin providing also’s solution included in its worker advantages package. Along with supplying tools that enable workers to trace their spending and conserve money, Even features Instapay, makes it possible for users to advance a few of their next paycheck as much as 13 times before payday. Weiterlesen