InComm Payments invests in Instant Financial

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InComm Payments, a leading payment technology company, today announced it has made an undisclosed investment in Instant Financial, a leading provider of No-Fee Earned Payroll Access (EWA) solutions.

Founded in 2015, Instant is a financial wellness company that helps employees bridge the gap between workday and payday by allowing them to access a portion of their pay immediately after their shift. , at the touch of a button on their smartphone.

The employment landscape remains uncertain for much of the population, with over 70% of Millennials living paycheck to paycheck * – leaving them uncertain whether they will get paid before bills are due, or whether they will have to resort to -interest payday lenders. With Instant’s EWA solution, employees have the ability to access a portion of their own money after each shift, avoiding the wait for bi-weekly pay periods.

For employers, Instant is a proven solution to help organizations attract and retain talent by providing immediate access to salaries and allowing staff to take full control of their finances. By reducing financial stress and fostering financial freedom, Instant’s solution can positively impact the organization’s key HR performance metrics. In fact, Instant customers have seen their turnover and absenteeism decrease by 20 to 30%.

“In today’s new economic climate, organizations looking to staff their workforce are faced with changing employee expectations,” said Tal Clark, CEO of Instant Financial. “Workers are looking for ways to access their hard-earned wages faster and easier, and Instant Pay offers it free of charge to employers and employees, without disrupting their existing payroll processes. “

“We are thrilled to be investing in a company that is transforming the modern economy by making resources available to employees when they need them most,” said Adam Brault, senior vice president of financial services at InComm Payments . “Instant helps businesses attract and retain top talent. ”

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