AUSTIN, Texas--(BUSINESS WIRE)--May 16, 2023--
Fourth, the leader in workforce and inventory management solutions to the restaurant, hotel, retail, and leisure industries, today announced that its Fuego ™ on-demand pay solution has added automated tip pay out functionality to complement its existing earned wage access capability. Integrated seamlessly with Fourth’s scheduling platform, HotSchedules ®, Fuego allows employees to access their tips electronically and draw a portion of their earned pay before payday.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230516005304/en/
Fuego’s new tip pay out solution reduces dependency on cash by automating the tip payout process. (Graphic: Business Wire)
Fuego’s new tip pay out functionality automates the entire process and removes the tip cash out process from the manager’s daily responsibilities – all at no cost to the business or for employees who have a Fuego Visa ® Card*. The enhanced on-demand pay 1 solution gives both employers and employees choice and flexibility over payments.
“We are excited to expand our earned wage access offering with tip pay out,” said Clinton Anderson, CEO, Fourth. “Businesses today face unprecedented challenges attracting and retaining employees. As the only on-demand pay app fully integrated with the industry’s #1 scheduling app, HotSchedules, customers experience more than 20% employee adoption, making it the best choice for retention.”
By eliminating the need for excess cash in stores to pay out tips, employers can reduce their dependency on cash and the costs associated with cash collection, delivery, and insurance, while lowering security costs and the chances of theft or fraud. In addition, cash pickups are minimized, and employees benefit from safer commutes after shifts.
“One of the most surprising benefits customers realize is how seamlessly it integrates into existing systems,” said Christian Berthelsen, CTO, Fourth. “Fuego is a cost-free benefit that helps customers reduce turnover and stand out in the competition for labor.”
Fourth will be showcasing Fuego at the 2023 National Restaurant Association Show, May 20-23 in Chicago.
For more information on how on-demand pay can help you retain employees, please visit Fourth.com.
About Fourth
When every hour of every shift matters, Fourth helps restaurants, retailers, and hotels conquer the day with data-driven workforce and inventory technology. The Fourth Intelligence Platform leverages more than 20 years of rich data and advanced analytics to deliver actionable insights and demand forecasting for optimizing operations, maximizing margins, and empowering employees. With a streamlined business powered by Fourth Intelligence, industry operators can act with certainty and conquer with confidence whatever comes their way every day. Headquartered in Austin, Texas, Fourth serves more than 15,000 customers across 100,000 locations globally. For more information, please visit fourth.com.
*About Fuego Visa Card
The Fuego Card is enabled through Fourth’s partnership with Central Payments and their Open*CP Fintech API Marketplace.
The Fuego Visa Card is issued by Central Bank of Kansas City, Member FDIC, pursuant to a license from Visa U.S.A., Inc. and may be used everywhere Visa debit cards are accepted. Certain fees, terms, and conditions are associated with the approval, maintenance, and use of the Card. You should consult your Cardholder Agreement and the Fee Schedule at www.getfuego.com/legal. If you have any questions regarding the Card or such fees, terms, and conditions, you can contact us toll-free 24/7/365 at 1-855-715-8518.
1 Central Bank of Kansas City does not administer nor is liable for on-demand page/wage draws.
View source version on businesswire.com:https://www.businesswire.com/news/home/20230516005304/en/
CONTACT: Scott Factor
Fourth
Scott.Factor@fourth.com
+1 216 299 9629
KEYWORD: TEXAS UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: TECHNOLOGY HUMAN RESOURCES PAYMENTS FINANCE FINTECH BANKING PROFESSIONAL SERVICES SOFTWARE DATA MANAGEMENT
SOURCE: Fourth
Copyright Business Wire 2023.
PUB: 05/16/2023 11:09 AM/DISC: 05/16/2023 11:08 AM
http://www.businesswire.com/news/home/20230516005304/en
