Branch, the Act One portfolio company that allows workers to view schedules and swap shifts, is adding a whole new dimension as it continues to distinguish itself from its competitors: payment advances.
The new feature is kind of like payday lending, but without the hassles and predatory practices. By linking their debit card to their Branch account, an employee can receive pay up front after completing a day or a few days of work — from $150 to $500. After the employee is officially paid, Branch will subtract their advances but will ensure that it doesn’t overdraft anyone’s account. And workers can do this without involving their employer at all.
Branch is also up for an award at this year’s South by Southwest. Read more about that and the new payment feature here.