Can you give us more info about workPAY ADVANCE and what will bring?
Thanks for the question!
Initially our focus is on workPAY which is a real time payment protocol which will enable employers and employees to use the system to offer a cheaper, faster and more fair way to do payroll.
Recognizing that some employees will want to adopt the system before their employer, workPAY Advance is our way of 'advancing' them the funds, akin, to payday lending, prior to them being paid by the employer. The money that was advanced is then repaid at the next routine pay date.
In the future it's possible to imagine this going being simple advances for the day worked, but also advances on the next paycheck, or micro-lending... That won't be our initial focus though, there are many other fantastic lending projects out there as well, so we'll also be aiming to partner with the one's that align with our mission.