Download the app

Wagestream Joins American Fintech Council (AFC)

Founded in 2018, Wagestream’s financial benefits platform - which includes flexible pay (Earned Wage Access) - is used by more than 1,000 employers and 3 million employees.

 AFC represents responsible fintech companies - including almost every provider of Earned Wage Access - and is paving the way for responsible companies to demonstrate clear standards for the industry’s path forward.

Washington, D.C. (March 21, 2024) – The American Fintech Council (AFC), the premier industry association representing responsible fintech companies and innovative banks who deliver critical access to safe and affordable financial services, has announced that financial benefits platform Wagestream has become its newest member.

“Wagestream has done a phenomenal job of scaling its financial wellbeing approach to span multiple different benefits for workers, and now to multiple different geographies,” said Phil Goldfeder, Chief Executive Officer of AFC. “Having paved the way for an Earned Wage Access code of conduct in the UK market, and raised standards by consistently publishing its own research data and findings, it has also shown credentials as a fintech with social impact embedded at its core. That makes Wagestream a perfect example of the organizations we represent—many of whom see, every day, the benefits of giving workers choice and control over their own earnings.”

Wagestream was founded with investments from leading social impact organizations, and offers a range of different financial benefits - from interactive paychecks and savings tools, to money coaching and flexible pay (Earned Wage Access). The majority (74%) of workers using it feel more in control of their money—leading to happier, healthier, more productive workforces, and improved recruitment, retention and engagement for their employers.

Emily Trant, Chief Impact Officer at Wagestream, who spearheaded the formation of the UK’s EWA Code of Practice, said “9 in 10 say their finances are stable or improved once they can choose their own pay cycle with EWA. This is one of the biggest trends in payroll, and has the ability to improve the financial wellbeing of millions. As the industry grows, it’s imperative a common standard is adhered to, to ensure the protection of those.”

EWA is a payroll innovation that enables workers to get paid when they choose. Gartner estimates that around 20% of frontline employers now offer it as a benefit to their employees, and Wagestream’s Unlocking the Pay Cycle research found that 9 in 10 frontline workers would prefer the option. Responsible, affordable and transparent EWA providers are democratizing financial services and disrupting broken legacy systems that have historically put consumers at a disadvantage. 

AFC has worked tirelessly to advocate and represent EWA provider best practices and consumer protections, including strong transparency, non-recourse, no late fees, no debt collection, no credit reporting, no collection activity of any kind and a requirement that a “no cost” option be offered to all EWA users. AFC and its EWA members stand united in ensuring that these best practices are implemented across the industry for the benefit of consumers.

About Wagestream

More than 1,000 destination employers - like Burger King, Owens & Minor, and Rally House - make work more rewarding, by offering financial benefits through the Wagestream platform. 

They offer benefits through Wagestream employee app - which more than 3 million people use to manage their budgeting, choose their own pay frequency, build a rainy-day pot, chat to a money coach, save money on their bills, and more - all in one place.

Wagestream is a B Corporation, built with the Fair By Design financial inclusion campaign. 

For more, visit