Sign In
Small logos Small logos
  • Home
  • Technology
    Artificial Intelligence
    Big Data
    Block Chain
    BYOD
    Cloud
    Cyber Security
    Data Center
    Digital Transformation
    Enterprise Mobility
    Enterprise Software
    IOT
    IT Services
  • Platforms
    The New Google Algorithm Update for 2021
    Google algorithm update for 2021
    Google

    Google is continuously making improvements to its algorithm and how websites are ranked on its organic search results page. This…

    5 Min Read
    Oracle Cloud Platform Now Validated for India Stack
    Service-Partner-Horizontal
    Oracle

    ORACLE OPENWORLD — Oracle today announced that the Oracle Cloud Platform has been validated to develop applications using India Stack…

    3 Min Read
    Oracle and AT&T Enter into Strategic Agreement
    Oracle

    Oracle today announced that AT&T signed an agreement to move thousands of its large scale internal databases to Oracle’s Cloud…

    3 Min Read
    IBM and Andrés Cepeda introduce First ‘Cognitive Music’ Project in Latin America
    IBM-Watson
    IBM

    IBM (NYSE: IBM) and Grammy-winning Colombian singer, songwriter and producer Andrés Cepeda will partner to collaboratively compose the artist’s next…

    3 Min Read
    Alpine Consulting Launches New eCommerce Website for Dana Rebecca
    IBM

    The new website will provide clients with the ability to more easily browse the latest innovations and designs in the…

    2 Min Read
    Check out more:
    • Google
    • HP
    • IBM
    • Oracle
  • Industry
    Banking & Insurance
    Biotech
    Construction
    Education
    Financial Services
    Healthcare
    Manufacturing
    Mining
    Public Sector
    Retail
    Telecom
    Utilities
  • Functions
    RISMA Systems: A Comprehensive Approach to Governance, Risk and Compliance
    Risma Systems
    ENTREPRENEUR VIEWSGDPR

    RISMA Systems was founded in 2014 by Lars Nybro Munksgaard, who initially developed a system that helped accountants and lawyers…

    9 Min Read
    Happiest Minds: A “Privacy by Design” approach is key to creating GDPR compliant businesses
    Happiest-Minds
    GDPR

    We are currently living in two different worlds – the digital world and the physical one. One day the twain…

    8 Min Read
    Gemserv: GDPR 2020 and Beyond
    Gemserv
    GDPR

    As a professional services business operating in a world driven by data and technology, Gemserv like many businesses,  finds itself…

    9 Min Read
    ECCENCA:GDPR IS STILL AN UNTAMED ANIMAL
    GDPR

    Enterprises often restrict their privacy management strategy to customer data only. Though it is the personal data of employees, spread…

    6 Min Read
    Boldon James: HOW ENTERPRISES CAN MITIGATE THE GROWING THREATS OF DATA
    GDPR

    As we fast approach the second anniversary of the implementation of GDPR, the impact it has had on businesses and…

    8 Min Read
    Check out more:
    • GDPR
  • Magazines
  • Entrepreneurs Views
  • Editor’s Bucket
  • Press Release
  • Micro Blog
Reading: DailyPay, Inc.: A Novel Finance System Provider Facilitating Financial Fluidity Globally
Share
The CEO Views
Aa
  • Home
  • Magazines
  • Enterpreneurs Views
  • Editor’s Bucket
  • Press Release
  • Micro Blog
Search
  • Home
  • Technology
    • Artificial Intelligence
    • Big Data
    • Block Chain
    • BYOD
    • Cloud
    • Cyber Security
    • Data Center
    • Digital Transformation
    • Enterprise Mobility
    • Enterprise Software
    • IOT
    • IT Services
  • Platforms
    • Google
    • HP
    • IBM
    • Oracle
  • Industry
    • Banking & Insurance
    • Biotech
    • Construction
    • Education
    • Financial Services
    • Healthcare
    • Manufacturing
    • Mining
    • Public Sector
    • Retail
    • Telecom
    • Utilities
  • Functions
    • GDPR
  • Magazines
  • Entrepreneurs View
  • Editor’s Bucket
  • Press Release
  • Micro Blog
Follow US
© 2022 Foxiz News Network. Ruby Design Company. All Rights Reserved.
The CEO Views > Blog > Magazine > ENTREPRENEUR VIEWS > DailyPay, Inc.: A Novel Finance System Provider Facilitating Financial Fluidity Globally
ENTREPRENEUR VIEWS

DailyPay, Inc.: A Novel Finance System Provider Facilitating Financial Fluidity Globally

CEO
Last updated: 2021/12/30 at 2:00 PM
CEO
Share
DailyPay
SHARE

DailyPay, Inc. was founded with a core mission to support American workers by offering them unprecedented control over their pay with an on-demand pay benefit. The company wanted to transform and modernize the entire payroll system. So, DailyPay has been targeting all companies, industries, and employees at every level. DailyPay is facilitating financial fluidity between businesses, consumers, and merchants, which in turn, revitalizes the economy. For money to flow, money must first be spent. So, employees must have their earned money anytime and anywhere. With  DailyPay,  employers enable their employees to access their earned wages faster and when they need them instead of waiting for payday, which makes that money available sooner for purchases from merchants and the banks that process the purchases. With more money in their pocket, employees have more spending power and can pump more money into the local economy. This results in helping the entire community become the best version of itself as people are spending money and businesses are thriving. DailyPay is building a new financial system that accelerates and streamlines the flow of money for a win, win, win, win — employers, employees, merchants, and banks.

DailyPay, Inc. is reinventing the way money moves. For too long, the way money moves has been controlled by a set of invisible rules – invisible rules that just make all of our lives harder.

  • Rules that say that even if you work and earn every day, you still get only paid for some reason once every two weeks.
  • Rules that prevent merchants from actually connecting with their shoppers at the right moment, when they want to buy something.
  • Rules that decide who can and who can’t open up the best bank account for themselves.

The current pay system revolves around the employer but completely ignores the needs of the employees. So, employees are left on their own to make ends meet, such as seeking out highly inferior and dangerous alternatives like payday loans to address the gaps caused by the system’s failure. Their financial health then deteriorates, which hurts their families, society, and employers through higher turnover and absenteeism.

To address this, DailyPay built a technology platform, rooted in the pay balance and on-demand pay, to reimagine the way money moves.

DailyPay, Inc. has been recognized as one of the 5 Fintech companies of the year. With 80% of the Fortune 200 companies that provide on-demand pay as current clients, the team is confident that DailyPay will continue to be highly valued in the marketplace. The results speak for themselves: when its clients offer their employees DailyPay, they see an increase in productivity and reduction in turnover. DailyPay sees itself developing even better solutions to deliver more financial security to employees across every interaction with employers, merchants, and financial institutions.

Within five years, DailyPay expects that at least 75% of U.S. businesses will offer an on-demand pay benefit. To ensure that DailyPay achieves mass adoption, the team continues to educate businesses and the public about the significance of on-demand pay and the different offerings. With acceptance and interest in on-demand rapidly rising, some neo-payday lenders are trying to participate in the halo effect by simply calling themselves “earned wage access providers”. So, the organization has been providing the public guidance on what kind of solutions to look out for and harmful forms of payment to avoid through digital media, press, campaigns, and much more. To be a true on-demand pay provider, one has to be integrated into the payroll tech stack to verify net earnings.

Moving money digitally is the new norm. With accelerated digitization in the workforce and an increased acceptance of digital payments, in time, DailyPay expects to see employees having access to their Pay Balance on their devices. Bi-weekly direct deposits will become a thing of the past, just like physical check writing and every other financial payment that has imposed friction and unnecessary timing delays. Having access to insight and control of one’s funds has never been possible until Pay Balance was invented. Unlike other platforms or balances, Pay Balance enables employees to have access to real-time funds, and make purchases or save and invest just like any other financial account without any restrictions. Users have their exact balance right in front of them and that’s game-changing.

DailyPay built a technology platform that reimagines the way money moves. The first of its kind technology platform combines a massive data network with tens of millions of nodes, over six thousand connections with endpoints in the banking system, and a unique and proprietary funding model that results in a consumer knowing his/her pay balance, a balance like any other balance, which is his/her money- Usable, consumable, spendable, and savable.

Information is power and financial visibility is empowering its users to achieve financial wellness. Individuals should not be making financial decisions without understanding their financial situation. It’s no different than a business allocating its financial resources without looking at its past expenses and company data. When employees know exactly how much they have made, they can easily calculate to see if they need to work extra hours to cover the week’s expenses or if they’ve made enough. A recent study done by the Aite-Novarica group found that 97% of DailyPay users overdraw their account rarely/never (79%) or less (18%) after access to DailyPay and 95% of DailyPay users stopped using payday loans (81%) or reduced use (15%) after access to DailyPay. Hence, on-demand pay is essential to workers, particularly hourly employees, as it offers pay transparency, flexible pay, and financial insight to assist employees towards financial wellness.

DailyPay offers a full-service solution, which includes white glove customer service, top-tier security, up to 100% accessibility, and much more.

Hundreds and thousands of individuals have been relying on weekly unemployment checks and to strip them away of free money and weekly checks in exchange for a biweekly paycheck may not be an enticing offer to get Americans back to work. Many companies simply do not have the finances to invest in high-costing benefits. With DailyPay, employers can provide their employees with on-demand pay along with other additional financial benefits at zero cost. Research indicates that organizations with DailyPay fill open positions 52% faster than organizations that don’t offer a daily payment option and 1 in 6 job seekers indicate that they want a daily pay benefit. With many prospective candidates comfortable with a weekly unemployment paycheck, DailyPay offers employees financial flexibility with access to their money anytime, an upgrade from their current paycheck receivable system.

DailyPay offers a full-service solution, which includes white glove customer service, top-tier security, up to 100% accessibility, and much more. DailyPay has the highest NPS rating in the industry by employers and employees and prides itself on achieving the top level in security by attaining the ISO/IEC 27001:2013 certification. “With our one-of-a-kind full-service model, no other competitor competes with our efficiency and top-tier service”, says Jason Lee, Co-founder, and CEO of DailyPay. Many providers tinker with the self-service model and have yet to build a system that matches DailyPay’s full-service system. DailyPay designs its solutions with the user in mind to deliver the gold standard pay experience.

CEO December 30, 2021
Share this Article
Facebook Twitter LinkedIn Email Copy Link
Previous Article CRM for real estate agents 5 Tools Real Estate Agents Should Use To Build Relationships with Customers
Next Article Hiring Legal Professionals When Should All Businesses Consider Hiring Legal Professionals?
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Relocating Employees

5 Issues Small Companies Face When Relocating Employees

Throughout the global pandemic, many companies switched to remote work,…

October 7, 2022
Skyline Robotics
ENTREPRENEUR VIEWS
Skyline Robotics: Redefining Window Cleaning

The $40B window cleaning industry is at a crossroads. While it has…

9 Min Read
Coach Masters Academy
ENTREPRENEUR VIEWS
COACH MASTERS ACADEMY: Transformative Coaching For the Future

Conventional coaching focuses on utilizing a person's strengths to encourage the development…

6 Min Read
Technologies changes the healthcare sector
Healthcare
Impact of IT Changes in Healthcare Sector

Today, IT is experiencing significant changes within the healthcare industry. This has…

7 Min Read
How Consumerism and Customer Interaction Has Changed in the Last 20 Years
Micro Blog
How Consumerism and Customer Interaction Has Changed in the Last 20 Years

Over the past two decades, data protection technology has undoubtedly advanced in…

5 Min Read

Eight Things You Need If You’re Going To Invest In Cryptocurrency

Cryptocurrencies like Bitcoin and Ethereum present…

October 2, 2023

Finding the Best Usenet Search Product: Your Ultimate Guide

In the vast realm of the…

October 2, 2023

What Is the Significance of Internet Safety Education in a Hyperconnected World?

Although we are born with smartphones…

October 2, 2023

Skybridge Americas: Revolutionizing Customer Service With Talent and IT Innovation

Investing in customer experience has proven…

September 18, 2023

You Might Also Like

ENTREPRENEUR VIEWS

Skybridge Americas: Revolutionizing Customer Service With Talent and IT Innovation

Investing in customer experience has proven to be the key to long-term success for Skybridge Americas, the people-driven company known…

11 Min Read
ENTREPRENEUR VIEWS

YELLOW BRICK ROAD: Unleashing Child’s Imagination With Unique Child Care Programs

Early childhood offers a critical window of opportunity and sets the building blocks to shape a child's holistic development. When…

10 Min Read
ENTREPRENEUR VIEWS

PATRICK R. RICCARDS: Transforming The Teaching And Learning 0f American History

An exceptional visionary and dynamic leader, Patrick R.  Riccards, the CEO of Driving Force Institute exudes an un  wavering drive…

9 Min Read
ENTREPRENEUR VIEWS

Jason A. Corning: Building A Better Future For The Disabled Community

Jason Corning was born deafblind. Like any other disabled person, he went through rigorous challenges both physical and mental and…

10 Min Read
Small logos Small logos

© 2023 All rights reserved. The CEO Views

  • About Us
  • Privacy Policy
  • Advertise with us
  • Reprints and Permissions
  • Business Magazines
  • Contact
Reading: DailyPay, Inc.: A Novel Finance System Provider Facilitating Financial Fluidity Globally
Share

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?