US-based mobile-centric payment technology firm Branch has launched a new debit card for hourly workers in order to boost their financial wellbeing.

The company has launched the card in partnership with Mastercard and Evolve Bank & Trust, which offers specialised services in payment processing.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

By offering the new debit card along with an account, Branch has become the first company to offer pay-cheque advances instant without any additional cost.

The new offering comes with a free, digital current account to give cardholders access to their wages instantly and free of cost before their pay-cheque.

Additionally, the cardholders can deposit and withdraw their funds without paying any fees or maintaining a minimum balance.

Branch CEO Atif Siddiqi said: “We’ve seen that once an hourly employee joins the workforce, their employer is their first entry into the financial system.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

“Most traditional financial services actually make it more challenging for hourly workers to balance their finances, whether it’s expensive overdraft fees or minimum balance requirements.

“Given their income volatility and limited access to the support they need, we want to provide hourly workers a strong start on their financial journey and offer services that help them improve their financial wellness and save.”

Leveraging its enterprise services, the employers can save up to $2-$4 per cheque, claims Branch.

Evolve president and CEO Scott Stafford said: “Evolve recognises the void Branch is filling by offering this new debit card. We continue to sponsor partners who are leading the way in developing much needed financial services and making them available to underserved segments of the workforce.”

Users can sign up for the debit card after downloading the company’s mobile app which is available on both iOS and Android play store.