

Startup offers payday advances without the pesky loan-sharking - kimonos
http://edition.cnn.com/2014/08/07/tech/innovation/startup-offers-payday-advances/index.html?hpt=hp_bn2

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afafsd
If I were an employer who employed a lot of lower-class people of the sort who
might use this service (say, Wal-Mart) I'd be looking at this article and
wondering "Why don't we just pay our employees every day?"

The extra costs would be minimal, surely, since it's just a bunch of automated
money transfers. And it would make our company the employer of choice for
minimum-wage schlubs with poor forward-planning capabilities everywhere.

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reitzensteinm
Is that necessarily better?

I've never had a regular paycheque, by my understanding is that you'd setup
your rent and other big bills to go through on a specific day to coincide with
getting paid.

If you're paid 1/30 of your monthy salary each day, you're going to have to
save up for these bills, and if you're behind, you'll still need some kind of
advance.

A hybrid solution, where you can give your employer the dates and amounts of
your big bills, and then the remainder is paid out daily, would actually seem
pretty useful. Though much more complex.

