Wal-Mart Will Allow Workers to Have Early Access to Pay
- Retailer’s employees will get eight free uses of Instapay tool
- Startup PayActiv had been discussing deal for almost a year
Employees restock shelves at a Wal-Mart Stores Inc. location in Burbank, Calif.
Photographer: Patrick T. Fallon/BloombergThis article is for subscribers only.
Wal-Mart Stores Inc., working with two financial-technology startups, will allow its 1.5 million-strong U.S. workforce to draw on their salary ahead of payday -- or squirrel some of it away for a rainy day.
The world’s biggest retailer has unveiled financial-planning tools designed by Even Responsible Finance Inc. and PayActiv Inc., a move that lets its employees access earned wages ahead of scheduled paychecks and avoid bounced checks or payday lenders.