Green Dot lovers with Gig Wage to provide underbanked workers

Green Dot lovers with Gig Wage to provide underbanked workers

Green Dot is partnering with and spending $2.5 million in Gig Wage to supply solutions like debit cards and cash management to gig workers, lots of whom are on the list of tens of an incredible number of underbanked and unbanked americans.

Based on the Federal Reserve, 16% of grownups had been underbanked in 2018, meaning that they had a banking account but additionally utilized services that are alternative payday loan providers and check-cashing services — solutions that Gig Wage creator and Chief Entrepreneur Officer Craig J. Lewis called “predatory.”

The issue is especially urgent for Ebony individuals, whom made within the proportion that is highest associated with the underbanked, at 35per cent weighed against 11per cent of whites. Ebony households also make up the greatest proportion associated with 7.1 million households that have no banking account at all, in line with the Federal Deposit Insurance Corp. Continue reading “Green Dot lovers with Gig Wage to provide underbanked workers”