Founded in 2013, EarnIn has saved its millions of customers $1.3 billion in fees. AFC is paving the way for responsible EWA to demonstrate clear standards for the industry’s path forward.

Washington, D.C. (September 6, 2023) – The American Fintech Council (AFC), the premier industry association representing responsible fintech companies and innovative banks who deliver critical access to safe and affordable financial services, has announced that EarnIn has become its newest member. EarnIn will join a growing group of diverse industry-leading Earned Wage Access (EWA) companies creating safe, transparent and affordable financial options for consumers.

“EarnIn will add an important voice to a growing chorus of members promoting financial inclusion and creating responsible standards for EWA that balances innovation in pay access and consumer protection,” said Phil Goldfeder, Chief Executive Officer of the AFC. “As the trade association already representing the largest EWA providers, AFC is establishing an important standard for the nascent industry already serving millions of families across the country.”

Founded in 2013, EarnIn is an app that lets you access your money as you earn it — not days or weeks later. Since being founded, EarnIn has facilitated over 200 million transactions, saving 3.8 million customers over 1.3 billion in fees.

“EarnIn is on a mission to help consumers establish financial momentum in their lives by providing them with on-demand access to the income they’ve already earned,” said EarnIn CEO Ram Palaniappan. "With our American Fintech Council membership, we are excited to have more opportunities to collaborate with fellow fintech partners who share our vision of innovating and promoting a more consumer-centric financial landscape.”

EWA is a payroll innovation that enables workers to access wages they have already earned when they need it and serves as an important alternative to arbitrary pay periods and high-cost predatory options. Responsible, affordable and transparent EWA companies are democratizing financial services and disrupting broken legacy systems that have historically put consumers at a disadvantage.

AFC has worked tirelessly to advocate and promote EWA industry best practices and consumer protections, including strong transparency, non-recourse, no late fees, no debt collection, no credit reporting, no collection activity of any kind and a requirement that a “no cost” option be offered to all EWA users.‍

About EarnIn‍

EarnIn lets you access your money as you earn it — not days or weeks later.

We're on a mission to reimagine the way money moves to empower every person’s potential. That starts with payday every day and builds with tools like Tip Yourself accounts, Credit Monitoring, and Balance Shield, a low-balance alert feature. All with no interest, no credit checks, and no mandatory fees. So our customers have as many opportunities as possible to spend and save on their terms.

EarnIn’s pioneering Earned Wage Access app is backed by world-class partners like A16Z, Matrix Partners, and DST. Since our founding in 2013, 3.8 million customers have given it over 380,000 5-star reviews for helping them access over $15 billion in earnings.