Walmart is giving its staff an app to help them budget their money and get remunerated before payday.
The retailer stated on Wednesday that it collaborated with financial tech startup Even and PayActiv to make the app available to 1.4 million Walmart workers.
The Even app in realtime makes plans ahead for bills, savings goals and will display to workers the amount they can spend with no ish. It’ll also permit staff to have access to cash before a planned payday up to 8 times a year free of charge.
Walmart stated it’ll cover the costs for Even for both full and part-time workers at Walmart, Sam’s Club and its e-commerce sites. Users will need to pay a fee if they’ll like to get paid earlier more than 8 times annually.
Critics and labor unions opposed this initiative by saying the service is another Walmart way of not paying its workers enough.
“Living paycheck to paycheck is too normal at Walmart and that’s the issue that Walmart ought to be trying to solve,” the Organization United for Respect at Walmart said.
New workers at Wal-Mart Stores Inc. are paid $9/hour. That’s beyond the $7.25/hour federal minimum wage, however lower to some of what its competitors’ pay.
Target Corp.’s, for example,minimum wage per hour is $11 and planning to increase it to $15 by 2020.