At their past business, RushCard, which showcased a prepaid debit card, Palaniappan stated that workers often asked him for an advance to their paycheck. Fundamentally he exposed this training to other people away from business. By 2012, this had morphed as a startup called Activehours, which later rebranded in 2017 as Earnin.
вЂњonce I did that,вЂќ Palaniappan said of advancing employees their paychecks, вЂњI noticed that their life had been a great deal easier. They certainly were having to pay their bills on time, there have been no more overdraft fees and you can forget payday advances. And that is exactly how it began.вЂќ
Since 2015, the analysis company Apptopia estimates that PalaniappanвЂ™s software has been downloaded more than 12 million times. Over fifty percent of the packages arrived in the a year ago.
Earnin users verify their work by sharing their GPS location and permitting the application to access their banking account, to demonstrate that they’re working frequently and that paychecks are arriving in. […]