Instant Financial Reveals 106% Growth in New Account Holders Amongst Existing Customers

Double digit increases in cardholder growth metrics point to surge in demand for responsible, instant access to earned wages

ATLANTA, GEORGIA – December 15, 2022 – Instant Financial, the pioneer of fee-free, responsible earned wage access (EWA) solutions that help employees take control of their financial wellness, announced today that the company reached several growth milestones in 2022, confirming the demand for on-demand pay and electronic tips solutions across industries including hospitality, retail, healthcare and more.

Highlighting the demand for Instant’s fee-free solutions is the average of 106% growth in new account holders amongst existing customers, including well-known brands such as Papa John’s, Regis Salon, and Condado Tacos. Additionally, a 30% YoY increase in funds loaded to cardholder accounts and a 10% increase in total transactions using the Instant card are both trends the company expects to continue as inflation rates surge.

Moreover, with the current rate of inflation putting even more consumers in the paycheck-to-paycheck category, employers are increasingly looking to help employees by getting creative with financial benefits. Instant is excited to welcome new clients in industries ranging from retail to staffing solutions, including Road Runner Sports, Reliable Healthcare Management, Gun Lake Casino, Engauge Workforce Solutions, and MAU Workforce Solutions.

Providing Financial Freedom to All

Instant’s Wages and Wellbeing study found that in 2022, 79% of working Americans would be more interested in applying for a job that pays them the same day they work – 30% higher than in 2018. But, with many Americans currently stuck in a two-week or monthly pay cycle, tens of thousands of people are planning to lean heavily on Buy Now, Pay Later (BNPL) this holiday season, meaning they will start the new year in debt, while already struggling to keep up with their bills.

“The traditional pay cycle is antiquated, and hard-working Americans deserve better,” said Tal Clark, CEO of Instant Financial. “This year, we’ve seen an increase in demand for earned wage access, specifically fee-free options, in response to recession planning. Our mission is to provide responsible, instant access to pay for all.”

Though many employers are planning to increase their salary budgets by the largest percentage increase in more than 15 years, it won’t compete with the 7.7% increase in inflation. This is where earned wage access (EWA) or on-demand pay plays an important role for employers and employees alike. Having access to wages immediately after a shift can mean the difference between exorbitant late fees or being able to pay a bill on time. Reducing financial stress and giving employees more control over their financial decisions generates trust and reduces operational costs by improving retention.

Additional company and executive accomplishments in 2022 include:

  • Published follow-up Wages and Wellbeing study, in partnership with the Center for Generational Kinetics, to help organizations understand how to respond to the new job and payment requirements of the post-pandemic workforce
  • Promoted Chip Harden, Instant’s Chief Revenue Officer, to oversee Instant’s customer success and implementation teams.
  • Promoted Doug Denny to Senior Vice President, Sales, where he will lead the sales team as they penetrate new verticals
  • Promoted Matt Martino to SVP, Head of Product, to ensure Instant’s products continue to meet the needs of both employers and their employees
  • Experienced a ​​21.5% YoY employee growth rate

Visit to see how Instant Financial plans to break the traditional payroll cycle and provide financial freedom to all, along with its milestones from the past year.

About Instant Financial

Instant Financial is leading the charge to provide financial freedom and wellness to millions of workers in the United States through its earned wage access solutions. By enabling employers to allow employees to access their daily wages immediately after their shift, Instant Financial helps organizations improve retention and reduce absenteeism while helping employees take control of their financial freedom by bridging the gap between work day and payday. Learn more about Instant Financial at