Payroll payments

The Fed's development of a real-time payments systems has sparked a pointless debate about paper checks.

The Fed's development of a real-time payments systems has sparked a pointless debate about paper checks.

Readers react to states investigating payroll advance companies and the GOP's weak response to cannabis banking, heed a warning that nonbanks are prepared for CECL and more.

On-demand wage delivery has caught on in other industries. Banks have taken notice.

The responsibility falls on employers to facilitate a payroll function that helps their workers access funds efficiently regardless of whether an employee chooses or is forced to forgo traditional banking, writes Brian Radin, president of Comdata's prepaid and payroll card business.

A year after trying to save faltering payday lender Wonga, Balderton Capital is investing in the other side of the model by leading a $19 million Series A funding round in Wagestream, a U.K. startup that provides flexible payroll technology to avoid payday loans.

Mobile technology provider Branch is expanding a work scheduling and payment app it makes available to companies, enabling the Pay feature to help hourly workers forecast hours and advance their pay.

The agency recently proposed gutting the ability-to-pay standard in its small-dollar loan rule, a move that would benefit the payday loan industry and harm consumers.

The agency’s proposed changes to its standard for small-dollar loans will help ensure underbanked consumers still have access to credit. Concerns about predatory lending are overstated.

Payday lenders argue that banks cut ties with their industry due to pressure from biased and hostile regulators. But the reality, in some cases, may be more nuanced.

Customer furor stemmed from troubles FIS had processing payments for MetaBank, the issuer of Netspend and other prepaid debit cards.

Generation Z and later groups will increasingly demand alternative salary options, including bitcoin and other cryptocurrencies, according to David Johnson, founder and CEO of Latium.

While a significant amount of press has been made about providing faster access to payments for Uber and Lyft drivers, as well as workers in the gig economy, there is an underserved community of millions of Americans who work in low-wage jobs living paycheck to paycheck.

If an employee is in need of money and struggling to wait for payday, ZayZoon wants "payday" to mean any day the employee chooses to receive those funds from an employer.

New legislation to offer banking services at post offices comes with some flawed assumptions, but payday lending needs an overhaul.

Subscribing to simplification at the expense of nuance is hugely counter-productive, and will alienate both existing and potential customers, writes Elina Mattila, executive director at Mobey Forum.

Fintechs are entering the market to close the time gap in gig economy payments between businesses and consumers. This will fundamentally change business models for banks, according to Lauren Reuf, a research analyst at Nvoicepay.

By adding direct deposit for payroll, Square is diversifying the Cash App as it competes in the P-to-P space with Venmo and Zelle.

Putting money directly in people’s pockets requires more speed and efficiency through innovative technologies and payments systems, writes Deirdre Ives, managing director of Wirecard North America.

Criticism of payday lenders is deserved and Congress should not throw out the CFPB's short-term lending measure.