In keeping up with the "on-demand" lifestyle of today's younger generations, a growing number franchisees for hotels and restaurants, including McDonald's, are now giving their workers the option of being paid on a daily basis.
These employers are working with the tech startup, Instant Financial, which offers a mobile app for workers to request up to 50 percent of their current day's pay within an hour of their shift. Workers can then use a debit card to withdraw the money at an ATM or buy products using the card with the money in their account.
The startup's chief executive Steve Barha tells Business Insider that the company's mission is to provide people with the maximum freedom to use their money how they see fit – particularly younger workers who don't have a lot of money to spare. Even having a little bit of money – say, $25, when needed – could make the difference between having enough gas to get home and calling a tow truck.
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Katie Kuehner-Hebert
Katie Kuehner-Hebert is a freelance writer based in Running Springs, Calif. She has more than three decades of journalism experience, with particular expertise in employee benefits and other human resource topics.
