/ Inside Branch

Introducing Branch Pay: How We're Rewriting the Paycheck Playbook

What if Every Day Was Pay Day?

Or, more fitting for today’s modern hourly worker -- *what if pay day was the day you needed it most? *

For a majority of America’s 78 million hourly workers, pay day is often met with great trepidation and anxious anticipation. That’s because, for many of them, the next paycheck may often be the difference between making ends meet, repairing a vehicle, paying rent, locking in another student loan payment, progressing on credit card debt or worse, handling an emergency.

The statistics are alarming:

  • According to the Federal Reserve, 44 percent of Americans are not prepared to handle a $400 emergency out-of-pocket
  • Most Americans cannot withstand the cost of more serious emergency situations that cost over $1,000
  • While tapping savings to pay off an emergency was the most common response, more than a third of Americans would sink into one type of debt or another, potentially harming their financial security

When we built Branch, our goal was to build a workforce management solution that addressed the needs of today’s hourly worker while also helping large enterprises meet the growing demands of staffing, management and employee engagement.

It’s become very clear to us, however, that the two-week pay period simply doesn’t work for the modern hourly worker. According to our own research and data, there’s a dire need for employee’s access to their cash flow: 70 percent of hourly employees had borrowed money from friends and family in the last three months and over 75 percent were incurring hefty overdraft fees to help deal with unexpected expenses.

That’s why we’re transforming the antiquated and inefficient payroll process.

Introducing Branch Pay
It’s time to let hourly employees tap into their earnings when they need it. No more worrying about payday loans, borrowing money from family and friends, or extending credit card debt.

We’re excited to announce the launch of Branch Pay -- real-time earnings technology that is directly connected to an employee’s schedule which gives hourly workers instant access to earnings after each shift.

Bottom line: An hourly worker should be able to get their money on their terms and today, we’re making that possible.

Branch Pay: Working Hand-In-Hand With Employees and the Enterprise
Branch Pay is available at no cost for both the company and the employees.

For employers, Branch Pay’s easy to use platform helps attract and retain talent when turnover costs U.S. companies over $160 billion per year. For the worker, it provides financial freedom and flexibility against the two-week pay period that can add severe financial stress.

“Our focus at Branch has always been to deliver employee-first solutions to address enterprise supply and demand challenges”, says Atif Siddiqi, our CEO and founder. “With Branch Pay, we’re now giving them instant access to wages. As seen from our 300 percent annual growth, it’s clear that Branch is filling a real demand for both enterprises and their hourly workers.”

How Branch Pay Works
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Branch’s new secure payment method will allow workers to tap into earnings at a cadence dictated by the number of hours worked in a given pay period.

We don’t require any integration into a company’s existing payroll system and the employee simply opts into the service once they’ve downloaded the Branch app and connects to their bank account.

Branch Pay provides maximum flexibility by giving the employee control over which shifts from their pay period they would like to withdraw earnings from. They can choose as much or as little funds as they need.

We’re also working with selected enterprise partners on deployments in anticipation for the seasonal holiday hiring surge.The instant earnings transfer feature can be used with any bank account and will be available free of charge on both iOS and Android.

Working to Reshape the Future of Work
At Branch, our primary focus is on continuing to build innovative solutions for the hourly employee, so that they have everything they need to manage their work-lives in the ever-changing world. Branch Pay allows us to help take on one of the biggest challenges for hourly employees and puts their earnings directly into their checking account when they need it most.

We will keep pushing on new ways to provide flexibility, access to earnings and transparency across their workplaces.

Join Branch Pay
Are you an hourly worker interested in signing up to use Branch Pay? So far, thousands have already signed up. Be sure to join our waitlist by downloading the app on the App Store or Google Play Store.

If you’re an enterprise or an employee looking to find workforce management solutions for your company and want to learn more about how Branch Pay works, please be sure to reach out to our team here.

Taylor Pipes

Taylor Pipes

I write stories about people that interact with technology that solves human problems. I love exploring and finding compelling stories at the intersection of technology and the future of work.

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