Alight Digital Wallet brings together Earned Wage Access (EWA) and a digital and physical Pay Card to offer financial wellness for your employees.
Facilitate financial flexibility
In the era of the employee, your benefits must do much more to retain and attract talent. With Alight Digital Wallet you can reduce the financial stress of waiting for payday. We can also provide a secure and simple place to pay your people, via Pay Cards.
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Here's the challenge
Finding and retaining talent is a struggle
The war for talent and the great resignation are big business challenges to overcome. As employers, it’s time to step up your game with desirable benefits to ensure that you attract the right talent and retain your best employees.
Here's how we solve it
Enhance financial wellbeing
Giving your employees the opportunity to get paid 365 days a year, as well as a safe place to have the funds deposited is a low-cost way to enhance your benefits package.
51%
Of employees believe Earned Wage Access is a more attractive benefit than additional paid time-off
57%
Of employees say they would work harder and stay longer at a company that offers on-demand pay
53%
Of employees agree financial stress distracts them from their work
64%
Of employees want their employer to help cover unexpected expenses with EWA, short-term loans, or other financial assistance
Source: The Workforce Institute
How it works
Alight Digital Wallet is made up of two elements that put your employee’s financial wellbeing at the top of the priority list.
Earned Wage Access (EWA)
Earned Wage Access gives your employees access to their earnings as soon as they’ve earned them.
Powered by a simple and intuitive app, employees can see the wages they’ve accrued, input how much they need to withdraw and select where they want the funds deposited to – a bank account or a physical or virtual debit card.
Pay Card
Pay Card brings financial freedom to your employees by providing a physical and digital pay card to receive their wages.
The company delivered Pay Card removes the need for credit checks, avoids costly check deposit fees and allows your employees to make online payments, as well as track spending through an intuitive app experience. *
Alight Digital Wallet benefits you and your workforce
For employers
Be the place everyone wants to work
- Improve hiring and retention with a competitive benefit
- Give your employees financial flexibility at low-to-no-cost
- Reduce employee financial stress
- Seamlessly integrate with existing systems
For employees
Gain autonomy over your finances
- Instant access to their accrued wages whenever and wherever they want
- An easy-to-use app makes withdrawing their wages simple
- Choose whether to deposit to a bank account or virtual or digital card
- Leverage budgeting tools that help to manage money
How we help
Compliance is covered with all local regulations adhered to
Accessibility for everyone with no need for credit checks
Minimal disruption to cash flow with coverage of advance funding
A purpose-built app makes for a simple and intuitive user experience
Financial health benefits such as wellness content, rewards and cashback are included
Employers can define earnings access parameters according to company policy
FAQ
What is Earned Wage Access (EWA)?
Earned Wage Access gives employees access to their earned wages or salary ahead of payday. The process takes place on an app that shows the earned wages available to the employee and allows them to withdraw accrued pay instantly. Employees can decide to have the funds disbursed to physical or virtual card or deposited into their bank account.
What is Pay Card?
Pay Card is a company-issued card which can be electronically loaded with employees’ wages or salaries. Employees who receive their paycheck in this way can withdraw and spend money on the card as if they were using a debit card without the need for a traditional bank account.
How do employees request and receive their earned wages?
Using the app, employees can view their available wages, select how much they want to access and then choose where to deposit this using either an existing bank account or the Alight Debit Card. Once selected, the funds are then immediately available, and the available balance is updated.
Do I have to use both Earned Wage Access and Pay Card?
No, these are two individual options. You can either request one, the other, or both depending on the needs of your employees.
Is Earned Wage Access a loan?
No. Earned Wage Access only gives access to the money earned during the current payroll cycle. It is the employee’s earned pay, and Alight simply enables access to it before the next regular payroll.
* Pay Cards are issued by Sutton Bank, Member FDIC, pursuant to a license by Mastercard. Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.
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