Ualett Expands Faster Remittance Capabilities for Gig Workers Through Strategic Partnership with Astra

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Oct 28, 2024, 08:30 ET

Integration enables push-to-card transfers and FedNow Service access, enhancing remittance speed and flexibility for gig economy workers

WILMINGTON, Del., Oct. 28, 2024 /PRNewswire/ -- Ualett, a leading mobile app solution offering online cash advances to independent workers in the United States, today announced a strategic partnership with Astra to expand its remittance capabilities for independent workers through new real-time solutions including FedNow, Visa Direct, and Mastercard Move. The integration will provide gig economy workers who leverage Ualett with more ways to receive funds immediately or within minutes.

Building on Ualett's existing remittance infrastructure, which already includes the ACH Network and the RTP^®Network, this partnership marks a significant expansion of Ualett's embedded financial solutions. By seamlessly incorporating Astra's technology, users can now access the Federal Reserve's FedNow Service and push-to-card capabilities alongside existing options, offering one of the most comprehensive sets of remittance options available to independent workers.

"Our users want flexibility in how they access their funds, and this partnership delivers exactly that," said Ricky Michel Presbot, CEO of Ualett. "By adding push-to-card transfers and the FedNow Service, we're giving independent workers more choices for quick access to their money today. This is also a strategic decision that establishes a foundation for future innovations, as we continue expanding the ways we can serve our users' financial needs. Astra's unified payments platform helps advance that mission."

The expansion of remittance options comes at a crucial time, as recent Federal Reserve data shows overwhelming demand for faster access to funds. According to a 2023 Federal Reserve study, 72% of consumers choose instant transfer options when available, and 78% report being highly satisfied with immediate access to their funds. This trend is particularly significant for the gig economy, with industry projections estimating that independent workers will represent 50% of the U.S. workforce by 2027.

Key benefits of the Ualett-Astra partnership include:

More ways to receive funds immediately or within minutes
Flexibility to choose what works best: push-to-card transfers, FedNow Service, or existing RTP and ACH options
Access funds directly through the Ualett app - no new sign-ups or separate processes
Send and receive money to your existing debit card
Available 24/7/365 through the FedNow Service and the RTP Service

"Astra's end-to-end instant payment solutions are designed to give innovative fintech companies like Ualett the flexibility to expand their cash advance capabilities while maintaining a seamless user experience," said Gil Akos, CEO at Astra. "By enabling real-time settlement through both the FedNow Service and Visa Direct and Mastercard Move push-to-card capabilities, we're helping Ualett deliver on their commitment to providing gig economy workers with immediate access to their funds."

For more information about Ualett and its services, please visit https://ualett.com/.

About Ualett
Ualett is a leading financial technology company offering tailored cash advance solutions for gig economy workers, including rideshare drivers, delivery drivers, and small business owners. With over 180,000 users, Ualett is committed to helping independent contractors achieve financial flexibility through personalized, secure financial services that meet their unique needs. Learn more at https://ualett.com/

About Astra
Astra offers advanced payment infrastructure, powering faster transfers for fintech products, financial institutions, and enterprises. Astra's proprietary, vertically integrated API enables developers to offer instant payments and accelerated bank transfers, with built-in optimizations to reduce risk. For more information, visit https://astrafi.com.

SOURCE Ualett