What does DailyPay do?

DailyPay is a financial technology company based in New York City, founded in 2015. It offers an on-demand pay platform that allows employees to access their earned wages before the traditional payday. This service integrates directly with employer payroll systems, promoting financial wellness for workers who often live paycheck to paycheck. The company's main product is earned wage access (EWA), which enables employees to track their real-time earnings and transfer funds to their accounts. DailyPay provides various features, including a customizable digital wallet, the DailyPay Card with cash back rewards, and tools for credit health. The platform serves nearly a thousand employers, including major Fortune 500 companies, and has facilitated nearly $90 billion in wage transfers. DailyPay aims to enhance employee retention and motivation while reducing absenteeism across sectors like retail, healthcare, and hospitality.