We’re proud to be Wagestream
At Wagestream, we’re really passionate about what we do. We’re also not shy about what we do either, and think that everyone should be proud about the products they make.
So we thought we’d share some of the things that we believe in and that we’re passionate about.
This is what we do
We’ve always known that access to the fairer financial products and services is the best way to empower people when it comes to their finances.
It’s something that’s so fundamental to financial security, but is something that many don’t have access to.
And our users agree with us. Across 350,000 employees we have a Trustpilot rating of 4.6, an app store rating of 4.8 and an NPS of 70+ that out ranks some of the biggest tech businesses in the world.
But most importantly for us, we have an adoption rate of up to 70% which shows that people actually enjoy and use our products, which is all we really care about.
We will never unfairly promote products to your people
By charging you, the employer, a SaaS (Software as a Service) fee, we will never try to make money through promoting additional products like loans to your staff.
Although we understand that borrowing is a part of life, we don’t feel that borrowing should be a part of the employee-employer experience.
We will only ever promote products to employees that genuinely help improve their financial resilience, like savings and education.
We were founded with a mission for social good and work towards that mission everyday.
For more information on our founding charity partners and mission, click here.
We never exclude people when they need us most
The last days of the pay cycle are the period when your workforce needs us the most. We know this as 47% of streams occur in the last quarter of the pay cycle, right before payday.
It’s also the period where payday lenders target your workforce the most through advertising on social media.
We are the only solution that’s not tied to your payroll systems and therefore do not become unavailable when your payroll shuts.
Because we do not loan money to your people, our service is available to everyone, regardless of financial situation.
For us, being 100% available to your workforce, 100% of the time is not just about being convenient, it’s an imperative part of making sure people never get into negative cycles of debt.
To understand more about some of the hidden costs of the monthly pay cycle, click here.
We will never provide access to income that hasn’t been earned
Through our instant app, employees can only access a percentage of what they’ve already earned, not what they might earn over the course of the month.
We will also ever only charge a flat rate of £1.75 to employees for accessing their wages, there’s no loans, no credit, and no interest. In our minds, it’s your money, you’ve earned it, so you should never pay interest to access it.
We believe in being totally transparent and measurable
The employer portal means you can see, in real-time, how the benefit is being used within your organisation so that you can accurately measure its success, mitigate any risk and see improvements in the financial resilience of your workforce over time.
You have instant access to that data, we will never hide any data about your workforce from you.
Your workforce will love you for offering Wagestream
82% of our users feel more positive about their employer for offering Wagestream.
The best engagement often comes from making your workforce feel good and what’s more feel-good than not worrying about your finances?
The financial relationship employees have with their employer is often the most positive in their lives. Making that relationship stronger is the best way for employers to connect with their workforce.
We hope you share in some of the things we believe in, and want to join us in our mission.
To get involved, get in touch.