• Brad

Not all early wage access is created equal.

Updated: Jul 15, 2020

We found this great graph over at We agree with Even that they are better than the other guys, but EarnedCard is $126/year better than Even for a typical employee.

Even offers EWA and charges employees $8/month for their service. Even has raised $52 million, including a $40 million round led by Khosla Ventures. We don’t want to demonize companies that offer EWA solutions but it should be pointed out that VCs don’t pour money into companies unless they are hoping for a big return. Even’s only revenue source is charging employees. For the investors in Even to obtain a big return, the employees who use their service will have to pay a lot in fees!

We believe it is better to have a free solution (to employees and employers), that obtains revenue from merchants when employees utilize EWA. And even better yet is a solution that promotes savings to help people get to a place where they are less likely to have to use the service at all.

So how do we offer our service without charging employees or employers? Earned makes money from the interchange fees paid by merchants to the credit card issuer - Earned. (For an in depth discussion of interchange and EarnedCard revenue see this blog post).

OK, so why is EarnedCard $126/year better than Even? Even charges employees $8/month for EWA ($96 year). EarnedCard charges $0/month. And EarnedCard provides 1% cash back on all EarnedCard purchases up to $250 per month, so if the customer spends $250/month or more on their card, she earns $2.50/month ($30/year) from us. EarnedCard customers don't pay $96/year in fees and earn $30/year in savings. So now you know who has the best EWA service for employees.

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