Acquisition International - Issue 1 2023 21 DailyPay’s mission is to create a new financial system that works for everyone. Thanks to the company building a technology platform that empowers users to take control of their finances, this means they no longer rely on financially crippling options such as payday loans and overdraft fees. We profile the firm as it is recognised in the Global Excellence Awards 2023. Oct22505 ailyPay is an employer-integrated on-demand pay, earned wage access, technology company. Its proprietary, direct integration with employer payroll, time and attendance, accounting, and other systems, allows the company to verify employment and wages earned for employees. It uses timely employer information so that only people working and earning wages can access verified, on-demand, earned pay. As a voluntary benefit that allows employees to control the timing of when they receive their earned income, DailyPay enables employees to harness the power of their pay to meet unexpected expenses, pay bills on time, and save money. DailyPay is the country’s leading on-demand pay provider, with a wide diversity of directly integrated employer agreements. Through these partnerships with America’s leading companies, Kroger, Houston Methodist, and Captain D’s, employers can offer DailyPay’s platform to their employees. This includes retail, restaurant, call center, supermarket, hospitality workers, home health aides, D Best On-Demand Pay Platform 2023 nurses, non-medical hospital staff, and many other private sector frontline workers. “DailyPay strengthens the employee-employer bond through a unique pay experience which leads to increased employee engagement and retention, with minimal effort and at no cost to the employer,” CEO of DailyPay, Kevin Coop explains. “Payday loans and overdraft fees have been a financial plague on underserved communities for far too long. DailyPay is disrupting those predatory industries with an innovative product that allows workers to access their earned pay before an arbitrary payday so bills can be paid on time.” Whilst DailyPay is creating the world’s next financial system by rewriting the invisible rules of money, it is the people behind the product who really make the difference. DailyPay consists of a team of innovators, bold thinkers, and agile movers who are constantly challenging the way things are done, looking for better ways to give employees access to their money and the opportunities it creates. While many businesses suffered economic losses due to the pandemic, DailyPay saw significant engagement and partnerships form during this period. “With proven studies of DailyPay improving retention rates, employees’ lives, and additional positive benefits, many companies were knocking on our doors for a solution,” ‘Kevin Coop continues. Recently, the firm was rewarded for its diligence and hard work by gaining recognition in the Global Excellence Awards and presented with the prestigious accolade of Best On-Demand Pay Platform 2023. Now, as DailyPay looks to the future, it seems that a brand-new product is being rolled out to provide even more financial stability in the form of Friday, a new general purpose reloadable (GPR) prepaid card and app that makes financial transparency and control available to millions of hard-working Americans. “In an effort to provide financial equity to the millions of Americans who are unbanked or underbanked, Friday offers the benefits of banking with no minimum balance requirement and no maintenance fees. With Friday, the card users have no-fee instant access to their earned wages which empowers them with financial control and allows them to avoid having to use expensive alternatives.” Company: DailyPay Web Address: www.dailypay.com
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