Why Wagestream?

Wagestream enables the modern workforce, through the power of a purpose-built platform, to improve their financial wellbeing. By bringing together On-demand Pay, budgeting solutions, savings tools and financial education, Wagestream reduces employees’ financial stress and helps people as they start their journey to achieve financial freedom.

For employers, Wagestream delivers improved employee engagement, boosted employee retention and greater productivity among their workforce.

Wagestream provides a holistic suite of financial wellbeing features within an easy-to-use smartphone app. They include:

• Track: Employees can track their shifts worked so they know exactly how much they’ve earned. Additionally, people can review historical earnings to ensure income is maintained at a level appropriate for their household.
• Transfer: On-demand Pay provides people access of up to 50% of their earned pay (per period) at any time. Employees can choose between a standard transfer, which processes in 1-3 business days, or an instant transfer, which happens immediately.
• Budget: Employees can view all of their monthly bills in a centralized location equipped with an itemized breakdown. Additionally, there’s a calendar view, which provides much-needed visibility into when payments are coming due. 
• Save: Employees receive access to an FDIC-insured savings account, which boasts an industry-leading 5% APY. Additionally, there’s savings-focused features, like the ability to set custom savings goals, automated (hands-free) transfers per pay period that deposit incremental savings into an employee’s account, and more. 
• Financial Education: Embedded within the app’s home dashboard, people can find weekly updated content. Topics cover a wide range of subjects related to personal finance, such as budgeting, saving, financial institutions, credit, debt, identity theft and more.

Wagestream is a B corporation, built with a social charter to provide fair financial services.

Integration Summary

This ready-to-use integration delivers Wagestream’s market-leading financial wellbeing platform. Our direct connection to Paylocity establishes a reliable pipeline that maintains synchronization while only needing a minimal lift from your team to get started.

From employee onboarding through to unenrollment, the entire process operates in the background. Therefore, offering value to your workforce without an administrative burden to the human resource and payroll teams.

• Employee information sync: Automated ingest of employee information (name, email address, hire date, employee ID) via Paylocity’s GET employee endpoint. This allows Wagestream to communicate the benefit and refresh at least every 12 hours to capture new joiners, leavers and any changes to information.
• Direct deposit swap: A direct deposit swap, using Paylocity's PATCH update employee endpoint. For enrolled employees only, this swaps the original routing number and account number (from Paylocity) with a unique Wells Fargo settlement account, allowing them to transfer, save and get paid on payday.

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Pricing

$0.

There are no costs associated with activating Wagestream’s Paylocity integration.

Additionally, there's no charges for setup, implementation or licensing.

Directionality and Data Mapping

Employee (Minimal)

Employee (Full)

Direct Deposit Swap