Earned Wage Access apps tripled transaction volume to $9.5bn, but critics compare their costs to payday loans.

These apps allow US workers to get paid between paychecks, with experts warning of steep costs. EarnIn, Empower, and Dave are among apps offering "Earned Wage Access," providing small short-term loans for workers in between paychecks. Between 2018 and 2020, transaction volume tripled, reaching $9.5 billion, according to Datos Insights. However, critics argue that these apps have costs similar to payday loans.