Posted: October 19, 2021 at 8:15 a.m. CDT|Update: 30 minutes ago
BIRMINGHAM, Ala., October 19, 2021 / PRNewswire / – Immediate, a leader in financial wellness and access to earned wages (EWA), today announced a partnership that provides users with additional benefits when they access pay-on-demand through Prizeout , a leading rewards payment platform.
Partnering with Prizeout offers immediate users a revolutionary way to cash out by providing them with added value on gift cards for basic necessities such as groceries, prescriptions, fast food and more. Employees accessing their pay on demand through Immediate will soon have the option to transfer their pay to a gift card with a value greater than the requested payment amount.
âTeaming up with Immediate means we’ll be able to give people not only more purchasing power, but more purchasing power when they need it most: in the shortfall between paychecks. “, said David Metz, CEO of Prizeout. âWith a shared vision of making financial well-being fairer, we are excited to give employees more tools to build long-term financial success and stability. “
Prizeout will be seamlessly integrated into the ImmediatePay app, allowing users to choose from a variety of gift cards curated with bonus offers through a digital marketplace. Normally, withdrawing wages earned in the Immediate app costs the user a transaction fee similar to an ATM, but using Prizeout, immediate users can add their funds to a selected gift card at no cost. transaction and, as an added bonus, add extra cash, creating even more value for immediate users.
âAccess to Earned Pay is revolutionizing the way we think about our paychecks by allowing employees to receive their pay when they need it most, and I expect EWA to become standard practice in the next few years, “said Matt Pierce, founder and CEO of ImmÃ©diat. âAs an innovative tech startup, aligning ourselves with other companies like Prizeout allows us to continue to focus on improving the financial well-being of employees. “
With the launch slated for November, employees using Immediate will have the option to access promotions before Black Friday and Cyber ââMonday. According to National Retail Foundation, the average American consumer spent $ 997.79 in 2020 and $ 1,047.83 in 2019 â well beyond the advised less than 1% of annual salary. Immediate and Prizeout are teaming up in hopes of reducing budgeting stress and improving financial literacy and worker well-being.
About the immediate:
Immediate partners with employers to provide their employees with wages that have been earned but not paid, whenever they need it. With seamless time tracking and payroll integrations, same-day and next-day bank transfers, and the ability to put income directly to a debit card, Immediate strives to improve financial well-being and eliminate employee debt cycles by allowing them to access their earned wages. To learn more, visit joinimmediate.com.
Prizeout is a leading advertising technology company working across a wide variety of industries including games, concert economics, payroll, and finance to turn withdrawals into a growth solution for ecommerce businesses. and retail. Operating as a digital withdrawal marketplace, Prizeout connects brands looking to acquire and retain customers with platforms from which users seek to withdraw funds. Through its exclusive partnerships, Prizeout offers users unprecedented access to bonus offers on popular and emerging favorite brands, while providing them with a fast, secure and organized experience. The company was founded in 2019 and is headquartered in New York City.
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