Boston, September 9, 2021 – Many consumers face timing mismatches between the day they are paid and their bill due dates. Others lack even a modest amount of savings that they can quickly tap into if an unexpected expense pops up. When these issues arise, these consumers may turn to costly strategies to make ends meet. Over the last decade, a growing number of companies have started to offer earned wage access programs in partnership with employers to help solve these issues.

This report examines the user experience for customers of a leading EWA provider, DailyPay. It reports on the strategies consumers used before using this EWA service, their reasons for using it, and the changes in their financial circumstances that they attribute to the product. The insights in this report are informed by an Aite-Novarica Group online survey of 1,114 DailyPay users conducted in May 2021 and sponsored by DailyPay.

This 25-page Impact Report contains 18 figures and two tables. Clients of Aite-Novarica Group’s Retail Banking & Payments service can download this report, the corresponding charts, and the Executive Impact Deck.