Net fluid flow of electrolytic solutions induced by a traveling-wave potential applied to an array of co-planar interdigitated microelectrodes has been reported. At low applied voltages the flow is driven in the direction of the traveling-wave potential, as expected by linear and weakly nonlinear theoretical studies. The flow is driven at the surfaces of the electrodes by electrical forces acting in the diffuse electrical double layer. The pumping mechanism has been analyzed theoretically under the assumption of perfectly polarizable electrodes. Here we extend these studies to include the effect of Faradaic currents on the electroosmotic slip velocity generated at the electrode/electrolyte interface. We integrate the electrokinetic equations under the thin-double-layer and low-potential approximations. Finally, we analyze the pumping of electrolyte induced by a traveling-wave signal applied to a microelectrode array using this linear model.