Pay Advances

The July 2019 Pay Advances: The Gig Economy’s New Normal, a PYMNTS and Mastercard collaboration, examines pay advances, full or partial payments received before an ad hoc job is completed, including how gig workers currently use them and their potential for future adoption.

 

First Name*

Last Name*

Title*

Company*

Work Email*

I would like a Mastercard representative to contact me directly via e-mail. By checking this, I am requesting that Mastercard send me information about Mastercard business products and services. I acknowledge and agree my personal data may be processed in accordance with Mastercard’s Privacy Notice and Terms of Use.
BY COMPLETING THIS FORM, I HAVE READ AND ACKNOWLEDGED THE TERMS AND CONDITIONS. 

Key Findings in the Study Include

• $178 billion: Potential value of pay advance wages if access were easier

• 56.8%: Share of workers in skilled segments who receive pay advances, compared to 36.6 percent of those in unskilled ones

• 41.9%: Share of gig workers living paycheck to paycheck with money saved for emergencies

• 41.5%: Portion of gig workers living paycheck to paycheck with savings who would use pay advances to pay their personal bills

 

https://securecdn.pymnts.com/wp-content/uploads/2019/07/2019-06-Report-Gig-Advance-Pay-Cover.jpg