Branch

Branch, a payments platform for payroll and contractors

Branch presents itself as a worker payments platform that allows businesses to pay W-2 employees and 1099 independent contractors from a single system. Its proposition focuses on speeding up and making payroll delivery more flexible, with options ranging from instant payments to accounts and cards for workers. The company states that it does not require pre-funding or large deposits to get started.

The site describes an end-to-end platform that combines payments, early access to earnings, and financial tools for employees. Branch notes that its service is available at no cost to companies and with free options for workers, and that those who sign up can get a free bank account.

Payment and tip management solutions

Branch's offering is organized into several product lines. It includes an app and card for workers, direct payments, embedded finance, and custom branded solutions. It also has a specific feature for tip pooling.

Among the use cases it details are cashless tips and mileage, earned wage access, embedded earned wage access, financial wellness, paycard and direct deposit, 1099 independent contractor payouts, and W-2 employee payments.

Integrations and setup

The company states that its platform can connect with various HCM, payroll, tax, and time & attendance systems. According to its description, implementation is designed to be easy regardless of the client's technical skills or timeline, and it allows you to start sending money to your team from day one without large deposits or pre-funding.

Branch offers configurable options: from ready-to-use payout solutions to custom branded payment experiences.

Earned wage access and financial wellness

Earned wage access is one of the platform's core pillars. Branch maintains that faster payouts can attract talent and retain workers. The site cites its own and third-party data: 83% of employees believe they should be able to access their pay each day; 1 in 3 individuals claim financial stress has negatively impacted workplace productivity; a 2.5x increase in applicants when on-demand pay was added to the job description, according to a Branch customer survey; and 86% felt more incentivized to work when on-demand pay was offered, also according to a customer survey.

Industries and customer types

Branch states that its platform serves businesses across various industries. Among those it mentions are healthcare, hospitality, logistics & transportation, business services, and gig platforms & marketplaces. It also lists construction and agriculture among its industries.

Customer cases cited

The site includes testimonials from customers in different fields. Manna highlights that the number one question from applicants, especially younger ones, is whether earned wage access is available. Hop City Craft Beer & Wine notes that manually paying out staff at the end of the night used to take one to two hours of management time each day and that with Branch the process takes about ten minutes. StaffHealth states that same-day pay has been its #1 tool for reducing no-call, no-shows. Servicon indicates that many employees previously turned to payday lenders with very high interest rates and that Branch offers them a way to access cash at zero cost to them. Three15 relates that it was live with Branch a few hours after an initial phone call and that it paid its entire team that same day.

Structure and nature of the service

Branch clarifies that it is not a bank. Banking services are provided by Evolve Bank & Trust, Member FDIC, or Lead Bank, Member FDIC, sponsoring entities listed on the back of the user's Branch card. The Branch Mastercard debit card is issued by the sponsoring bank under license from Mastercard. The company also publishes its own content on the future of work and payments, such as its gig workforce index produced with Stripe.