A Closer Look at Earned Wage Access

The fintech branch earned wage access offers lower-wage workers a vastly better alternative to payday loans, yet consumer advocates are still raising concerns

Lower-wage workers tend to run out of cash before payday. This is true everywhere. But even more so in Africa where 30-day pay cycles are common.

These cash crunches often lead workers to take out high-interest short-term loans to survive until the next payday. These can be street loans or their legitimized cousin, the payday loan.

In most cases, these …