Forget ping pong and beer taps, this is the perk employees want
August 8, 2019
When it comes to imagining popular employee benefits and perks, our first thoughts often go to freebies such as beer on tap or free snacks. But the heyday of office rooftops and ping pong tables is being pushed aside as more essential and practical perks take the spotlight, such as getting paid on demand.
Despite a strong run for the American economy, individuals and households continue to find themselves pinched for extra cash. Studies show that 80 percent of Americans still live paycheck to paycheck and that many would have trouble coming up with just $400 cash in the case of an emergency.
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With the new year comes new expectations for FinTech firms.
Recent PYMNTS data finds that fraud losses run about 2% of revenues — $51 million annually for the average FinTech.
The Power of Open-Loop P2P Payments
The FinTech Fraud Ripple Effect details the frictions customers experience when using FinTechs for their money mobility needs.
With more workers living paycheck to paycheck, having fast access to their hard-earned cash is crucial.
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Paper checks remain a popular form of mass disbursement — and a favorite of fraudsters.
Looking ahead, rising inflation, ongoing supply chain challenges, increased Central Bank interventions and economic slowdowns will all increase pressure on both consumers and corporations.
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