Workers restock racks at a Wal-Mart Stores Inc. location in Burbank, Calif.
Wal-Mart Stores Inc., using the services of two financial-technology startups, allows its 1.5 million-strong U.S. workforce to draw to their salary ahead of payday — or squirrel a number of it away for the day that is rainy.
The worldвЂ™s biggest store has revealed financial-planning tools designed by also accountable Finance Inc. and PayActiv Inc., a move that allows its workers access obtained wages ahead of planned paychecks and prevent bounced checks or payday loan providers.
Staffers will get eight free uses per year associated with the Instapay device via EvenвЂ™s personal-finance software, which will be from the employeeвЂ™s checking or account that is prepaid Wal-MartвЂ™s payroll system. (more…)