Palaniappan: On-demand wage access eliminates overdraft fees and payday loans
Ram Palaniappan · a16z Podcast | Fintech for the People · Jan 2, 2019 · at 3:33
Ram Palaniappan is the founder of Earnin. He discusses the impact of allowing employees early access to earned wages during the early testing phase of Earnin.
0:00 / 0:08exact quote · 8.3s
▶ Watch the full episode on YouTube → 720p mp4 · rendered on demand · StarZero watermark
“And when I did this, they were paying all their bills on time, no more overdraft fees, no more payday loans, like their life was much, much simpler, just giving them access to the pay that they had already earned.”
quote is from the automated transcript, cleaned for reading: filler sounds and stutters are removed, nothing is rephrased. names can be misheard (the analysis reads context, assessments check outside sources). how →
More from Ram Palaniappan
Palaniappan: Earnin approves wage access without credit decisions or SSNs
“We don't say no. If you worked, you get your pay. We don't do any of the decisions. We don't ask for social security number. Don't ask for your phone number. Don't ask for your home address.”
Palaniappan: Earnin operates on voluntary user tips without mandatory fees
“Yeah, I mean, so our product, when people hear about it the first time, it's you can get your pay whenever you want, and we don't charge any fees or interest, so we let the users just pay whatever they would like to pay, so it's get your pay whenever you want,…”