By Ksenia Steidel
In today’s rapidly evolving financial landscape, the concept of earned wage access (EWA) has gained significant traction. Now with over 40+ earned wage access companies competing for market share, it’s easy to lose sight of the original mission that sparked this movement: to create real, lasting change for hardworking individuals. At the heart of this mission stands Instant, the pioneer of responsible EWA—and one that continues to stand apart due to its unwavering commitment to “doing good in the world.”
A Vision Rooted in Compassion
Instant was founded in 2016 with a clear and noble purpose: to help workers gain immediate access to their earned wages without any fees. At a time when financial struggles were forcing millions of workers to rely on payday loans, overdraft fees, or high-interest credit cards, the founders of Instant saw an opportunity to provide a solution that would empower employees and improve their financial well-being. It was built entirely for them.
The inspiration for Instant came from the recognition that the traditional bi-weekly payroll system was failing many workers. For individuals living paycheck to paycheck, waiting weeks to access earned wages often meant falling behind on bills, struggling to buy groceries and gas, or facing unexpected emergencies with no safety net. The team behind Instant demanded a better way—and they were determined to find it.
Introducing the No-Fee Payroll Card for Employees
From the beginning, Instant’s approach was revolutionary. Unlike other earned wage access companies that charge transaction fees or subscription costs, Instant introduced a no-fee model delivered through a payroll card for employees. This innovation allowed workers to access a portion of their wages immediately after a shift, with no hidden costs or strings attached.
The payroll card was more than just a convenient tool; it was a lifeline for employees who previously had limited or no access to traditional banking services. For workers without bank accounts, the Instant payroll card provided a secure and reliable way to manage their earnings. This emphasis on accessibility and inclusivity set Instant apart from the very start.
A Mission-Driven Approach
Instant’s core mission has always been to prioritize the well-being of workers. The founders believed that financial services should be a force for good, and they built the company around this principle.
“Doing good in the world” wasn’t just a tagline; it was the driving force behind every decision Instant made. By offering earned wage access without fees, Instant provided workers with a tool to break free from the cycle of debt and financial stress. This commitment to helping others created a ripple effect, improving not only the lives of individual employees but also the workplaces and communities they were part of.
A Legacy of Leadership in Earned Wage Access
As one of the first companies to provide earned wage access, Instant played a pivotal role in shaping the industry. Its success inspired other companies to explore the concept, but few have replicated its dedication to serving workers without prioritizing profits.
Today, workers have more options than ever, but Instant’s payroll card and mobile app prioritize employee experience over merely meeting compliance requirements, unlike many earned wage providers. The company’s approach has earned the trust of employees and employers alike, proving that a business can succeed while staying true to its values.
The Future of Payroll Cards and Earned Wage Access
As the earned wage access industry continues to evolve, Instant remains at the forefront of innovation. In 2024, Instant launched Instant Direct – a new solution that allows employees to choose to send their earned wages to an existing bank account or continue using the physical or virtual Instant Card.
Instant Direct builds on the core principle of Instant’s business model – allowing 100% of employees to access their earned wages wherever, however, and whenever they want through its earned wage access (EWA) and tip disbursement capabilities. This solution allows employees to seamlessly transfer funds to their preferred location, eliminating the one-size-fits-all approach that is commonplace in the market.
Financial Freedom Through Financial Wellness
Instant’s origin story is a testament to the power of vision, compassion, and innovation. While many earned wage access companies prioritize revenue, Instant’s commitment to “doing good in the world” ensures that it remains a trusted leader in the industry. For workers seeking financial freedom and employers looking to support their teams, Instant offers a solution that truly makes a difference.
