Systems and methods for distributing payables

摘要

A method and system for providing early payment for earned, accrued wages to a worker that includes receiving over an electronic network, from at least one of the worker and an employer's tracking and payment system, earnings data for the worker; receiving, from the worker, data for accessing and effecting transactions in an account associated with the worker; calculating an hourly wage for the worker; calculating the hours for which payment can be accelerated and for which payment cannot be accelerated; calculating a value of funds to be transferred to the worker based on the hourly wage and accelerated hours; and debiting the account associated with the worker based upon the calculated value of funds.

主权项

1. A method for providing early payment for earned, accrued wages to a worker, the method comprising:
receiving, at a remote processing device, over an electronic network, from at least one of the worker and a third-party tracking and payment system, current earnings data for the worker; receiving, at the remote processing device, from the worker, a digital image captured on an image recording device including geographical information about a location of the worker when the digital image was captured for accessing and effecting transactions in a financial account associated with the worker; authenticating, by the remote processing device, a reliability of the captured digital image; accessing, by the remote processing device, the financial account associated with the worker and stored on a processing device at a financial institution maintaining the financial account to calculate an hourly wage for the worker using pay cycle assumptions and historical pay data, comprising a temporal frequency of wage deposits and amount of the wage deposits, from the financial account; calculating, by the remote processing device, the hours for which payment can be accelerated using the current earnings data for the worker; calculating, by the remote processing device, a value of funds to be transferred to the worker based on the hourly wage and accelerated hours; and debiting, by the remote processing device, the financial account associated with the worker based upon the calculated value of funds.