Bloomberg Surveillance · Friday, August 7, 2026
The fastest-growing sector in fintech is earned wage access (EWA), also known as advance wage pay, as many consumers struggle to live paycheck-to-paycheck and instead live 'payday to payday.' This service allows workers to access a portion of their earned wages for a fee, with some companies reporting it as their fastest-growing product.
“Can't get it, and so what they're doing is they're going outside of the banking system, which means it's incredibly expensive. I say that people aren't living paycheck to paycheck, but payday to payday. So the fastest growing industry within fintech and financial services is advanced wage pay. So if you've worked two days, you can access for a fee, your wages for those two days. And what happens is people are using this service multiple times. Now, it was Dave and Chime that reported yesterday that was their fastest growing product. And so while on a two week basis it looks like a six and a half percent interest rate, but annualized that's over one. Hundred and sixty percent.”