Your current location:HOME >opinions >These apps allow workers to get paid between paychecks. Experts say there are steep costs 正文
TIME:2024-04-24 11:15:03 Source: Internet compilationEdit:opinions
NEW YORK (AP) — When Anna Branch, 37, had her hours at work reduced at the start of the pandemic in
NEW YORK (AP) — When Anna Branch, 37, had her hours at work reduced at the start of the pandemic in 2020, she suddenly noticed ads for an app called EarnIn.
“You know how they get you — the algorithms — like they’re reading your mind,” Branch said. “The ad said I could get up to $100 this week and repay it in my next pay period.”
Branch, who was working as an administrative assistant in Charleston, South Carolina, downloaded the app, agreed to the flat fee, and added the suggested “tip.” The cash helped her cover expenses until payday, when the app debited the borrowed $100, plus $18 for the fee and tip. Four years later, Branch said she still uses the app, as often as once a month.
EarnIn is one of more than a dozen companies that provide this service, billed as Earned Wage Access. The apps extend small short-term loans to workers in between paychecks so they can pay bills and meet everyday needs. On payday, the user repays the money out of their wages. Between 2018 and 2020, transaction volume tripled from $3.2 billion to $9.5 billion, according to Datos Insights.
New Jersey Devils forward Timo Meier has post2024-04-24 11:00
Asian Games Torch Relay Highlights Dreams in Shaoxing2024-04-24 10:51
Villagers Harvest Apples in SW China's Guizhou2024-04-24 10:30
More real estate financing coordination mechanisms established in China2024-04-24 10:19
Victoria Beckham arrives at her 50th birthday party at a swanky private members club on crutches2024-04-24 10:10
Closing Ceremony of 31st FISU Summer World University Games Held in Chengdu2024-04-24 10:06
New Semester for Primary and Middle Schools Begins in Urumqi, Xinjiang2024-04-24 09:53
Shanghai Hosts Tourism Festival to Boost Consumption2024-04-24 09:35
Unai Emery agrees Aston Villa contract extension until 20272024-04-24 08:59
Across China: Early Childhood Education Program Ensures Strong Foundation for Rural Kids2024-04-24 08:47
UnitedHealth says wide swath of patient files may have been taken in Change cyberattack2024-04-24 10:47
Xinhua Think Tank Issues Report on China2024-04-24 10:39
Milestone Chinese Summer Box Office Earnings Inject Confidence, Mirror Quality Advances2024-04-24 10:38
11th Straits Youth Day Marked in Fuzhou2024-04-24 10:17
Ukraine, Israel aid package heads to Senate for final approval2024-04-24 10:12
CCTF Holds Training Session for Guizhou's Middle School English Teachers at BFSU2024-04-24 10:04
Asian Games Torch Relay Highlights Dreams in Shaoxing2024-04-24 09:34
Award Ceremony Held to Honor Foreigners for Contribution to Cultural Exchanges2024-04-24 09:20
'Challengers' review: Prepare to get hot and bothered2024-04-24 09:07
Calligraphy, Painting Industry Thrives in E China's County2024-04-24 08:44