If recent years have taught us anything, it’s to trust in Marie Kondo. The unofficial queen of spring cleaning, Kondo preaches simplicity over clutter — in other words, anything that doesn’t “spark joy” has to go.
At Pinwheel, we took this to heart and decided to launch our new website that sparks joy for customers, partners, and employees. Consider this our way of spring cleaning: Out with the old and in with new and better ways to learn what Pinwheel has to offer, from direct deposit switching to earned wage access to income and employment verification and more.
Perhaps the most exciting of these is earned wage access (EWA). Consumers are increasingly requesting immediate access to on demand pay — 77% of US workers would tap into earned wages if offered by their financial provider. We recognize this at Pinwheel and are committed to helping consumers evade predatory payday loans to gain more financial freedom.
Expanded T&A platform coverage
We know that consumers want EWA. Covering 80% of paid US workers, Pinwheel provides the highest quality data across shifts and paystubs endpoints to power earned wage access. But it doesn’t stop there: We now connect to major time and attendance (T&A) platforms in addition to our coverage of 1,600 traditional and nontraditional payroll platforms.
Why is this important? Well, many employers record shifts data in a separate platform from payroll. Most EWA solutions require paystubs data for underwriting, since the start date of a consumer’s wage period is needed to know when they were paid last. And since the majority of consumers accessing EWA are hourly or gig workers — and thus more likely to live paycheck to paycheck than salaried workers — shifts data is required to know how much they’ve earned.
This separation can cause a headache for companies that want to offer EWA but don’t have the time or resources to build the necessary logic. With Pinwheel, companies gain a single point of connectivity to both payroll and T&A platforms. We handle the heavy lifting so customers can focus on building a seamless EWA experience.
Currently, Pinwheel integrates with seven of the largest T&A platforms (or approximately 15M US hourly workers) with plans to integrate 20 by the end of next month. Our projections indicate that this number will jump to 25 million hourly workers. In addition to expanding coverage, we’ve also enhanced Pinwheel Link to support T&A platforms with an intelligent flow that captures a T&A consumer’s shifts data from start.
With 73M hourly workers in the US, connecting to T&A platforms is fundamental to any successful earned wage access solution. And for companies looking to double or even triple their EWA offering, choosing a provider with extensive T&A connectivity will be crucial.
Pinwheel’s new online home
Everything we do at Pinwheel is purposeful, and our web presence is no exception. You might be thinking, What’s this have to do with a product release? A lot, actually.
While we’re immensely proud to showcase the evolution of Pinwheel’s brand and visual identity, much of this growth reflects the maturation of our platform. With this latest refresh, we’re happy to make it easier to learn about the number of capabilities Pinwheel has to offer:
Enabling new use cases every day: We’re excited about the opportunities our customers have to enable earned wage access, along with direct deposit switching, verification of income and employment, and paycheck linked lending.
Reliable recurring access: Consumer financial data is always subject to change, which is why we doubled down on recurring access capabilities for things like direct deposit allocation monitoring and income and employment monitoring.
Fraud mitigation: While fraud is on the rise, Pinwheel’s direct deposit switching solution is the only one in the market to verify consumer identity prior to executing a switch.
This is only the beginning. Be sure to sign up for our monthly email updates to be the first to know about new developments at Pinwheel.
And if you're interested in working with us, check out our open roles — we’re hiring!