To help provide employees with improved financial well-being, DailyPay tapped into Fiserv’s Digital Disbursements offering to allow workers access to their earned, but unpaid, wages. The solution sends these funds quickly and securely through multiple methods instantly, the same day or the next day, according to a case study from Fiserv.
“We live in a world where instant is an expectation,” DailyPay CEO Jason Lee said in the study. “The evolution of the on-demand economy has created a new generation in the workforce who expects to be paid immediately for services rendered. Employees want the financial security of knowing their hard-earned money can be used in case of an emergency or to pay their bills.”
Employees can access the offering through their existing HR platforms and/or via the app from DailyPay. Users tend to make requests when they need money instantly to pay rent before the next payday or when an unexpected expense arises. As a result, Fiserv noted, “the ability to provide employees immediate payments into their account is critical for DailyPay’s business model.”