Marqeta, WorkWhile announce partnership on new card solution

Marqeta announced that it has been selected by WorkWhile to power accelerated wage access to its workers. Through a debit card, WorkWhile workers can access their wages as soon as their shift hours are approved, helping to significantly reduce their need for credit and improving their financial well-being. Instead of waiting for a weekly paycheck or long digital transfers to arrive, workers will have faster-than-ever access to their earnings. The companies are working together closely to make the cards available to WorkWhile workers in 2023. "Over half of all wage and salary workers in the US are paid hourly, and a potential credit crunch will most likely hit them the most," said Simon Khalaf, CEO at Marqeta. "We are honored to work with WorkWhile to power a new debit card that will give its workers accelerated access to their wages. It is exciting to see that our continued innovation in embedded finance can make such a positive impact on the financial health of hourly workers " Alongside powering WorkWhile’s new debit card, Marqeta’s platform will allow WorkWhile workers to tokenize their card instantly into a mobile wallet, and the company will handle KYC onboarding of cardholders, as well as disputes. The company has seen rapid adoption of accelerated wage access, with growth in volumes growing 100% quarter-over-quarter from Q3 2022 to Q4 2022.