Crypto.com Arena, Peacock Theater and L.A. LIVE to Streamline Payroll and Enable Employees to Access Wages Earlier

Published 7 months ago via Business Wire

Crypto.com Arena, Peacock Theater and L.A. LIVE are offering part-time employees a new payroll delivery option via Money Network electronic payroll delivery services from Fiserv.

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Part-time employees can now opt for Earned Wage Access (EWA) via Money Network® Wages Now. This increasingly in-demand benefit gives employees the ability to access a portion of their wages as they are earned, rather than waiting for a weekly, bi-weekly or monthly payday. EWA, alongside options for direct deposit and standard paper checks, provides flexibility and choice, enabling payments to be delivered in a way that best suits the daily lives of employees. Money Network also creates efficiencies for AEG by digitizing payroll administration.

“The way people work and the expectations for how they will be paid have shifted. Employees may need early access to their wages for a variety of reasons, including to cover unexpected expenses or avoid late fees, and they value employers who offer more flexible options that go beyond the standard payday,” said Nigel Andre, Senior Vice President of Prepaid Solutions, Fiserv. “Pairing earned wage access with the flexibility of a prepaid payroll program is a powerful example of how employers are using technology to attract and retain talent in today's digital-first world.”

Through Money Network, AEG will be able to deliver pay directly and electronically into an employee’s Money Network account. Employees that are paid via Money Network may monitor budgeting and spending online or via a mobile app, leverage a prepaid debit card to make purchases, access in-network ATMs, transfer funds, and enable a digital wallet. Crypto.com Arena, Peacock Theater and L.A. LIVE employees can control when, where, and how they get paid as wages are earned, rather than waiting for weekly, bi-weekly or monthly paydays.

“During the pandemic and beyond, many workers joined companies like Uber or DoorDash to be able to get paid daily,” said Angela Baker, Senior Vice President Human Resources & Office Services at Crypto.com Arena, Peacock Theater & L.A. LIVE. “We wanted to offer employees an option where they no longer had to wait two weeks for a paycheck. Money Network is currently available at no cost to part-time employees and they’re not going to have to pay those check cashing fees. They can come work a great event with us and have money to spend the next day.”

Utilizing the Money Network account and direct deposit options provides near real-time access to funds without having to physically pick up checks or wait in line to cash them. It also eliminates check cashing and money order fees, provides peace of mind as the pay is automatic and there’s no need to worry about lost or stolen checks, and it’s eco-friendly, as it cuts down on paper waste.

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