FlexWage Solutions

The business operates on a B2B2C model, partnering with employers to offer its solutions as a voluntary employee benefit. These employers, in turn, provide the service to their employees, particularly benefiting those in hourly or shift-based roles. FlexWage's core offering, OnDemand Pay, integrates with an employer's HR, payroll, and time and attendance systems to calculate accrued wages in real-time. This allows employees to access a portion of their earned wages before their scheduled payday, transferring the funds to a payroll card or directly to a bank account. Revenue is generated through small transaction fees for each wage transfer, which are capped per pay cycle, and potentially through interchange fees from its payroll card. This model helps employees manage cash flow volatility and avoid high-cost alternatives like payday loans and overdraft fees, while employers report benefits such as increased productivity and retention.

The company's product suite includes the FlexWage Payroll Debit Card, a reloadable Visa card for direct deposit, and OnDemand Pay. For employers, the platform provides administrative controls over transfer amounts and frequency. In 2019, FlexWage acquired Sum180, a mobile financial wellness service, to complement its EWA offering with tools for budgeting and financial planning. The company has secured $3.5 million in a Series A funding round in August 2014. Milestones include being named to the Inc. 500 list of fastest-growing private companies in 2013 and founder Frank Dombroski winning the Ernst & Young Entrepreneur Of The Year award in New Jersey in 2019.