A service that enables you to access your earned wages on an on-demand basis, as opposed to having to wait 2-4 weeks for pay day.
For illustration purposes, let’s say Tim earns $50 net per hour (post taxes/deductions) and is scheduled to work 100 hours this month. Tim usually gets paid once a month. Two weeks went by and he has worked 50 hours. He has earned himself $2500 of net pay, but still has to wait until the end of the month to get his wages paid. With Paytime’s on-demand wage access solution, he is able to withdraw a portion of his earned wages ($2500) any time (be it daily or weekly) as he completes his work.
This is also referred to Early Wage Access, On-Demand Pay, Earned Wage Access, or Wage Streaming.