DailyPay—Achieving more exceptional results because of an on-demand-pay platform that is different from any other

Most employees are paid on a biweekly basis. While this has been a regular practice for nearly 100 years, is it the right way to do things?

Because paydays have always worked, many Americans live with constant financial stress and instability. Today, 50% of all adults have difficulty paying for a $400 emergency expenditure, with one in five unable to pay the expense at all. In tight times, millions turn to payday lenders or other sources to meet ends between pay cycles. But it doesn’t have to be this way if workers can access what they’ve already earned and have more flexibility around their cash.

In an era of same-day shopping, on-demand movies, and ubiquitous mobile access, individuals are increasingly expecting prompt access to nearly anything they need. For employees, this also means getting quick access to their paychecks through on-demand pay.

Employees should be able to access their earnings for the work they do each day. That’s where on-demand pay comes in.

DailyPay is one of the top firms globally that enables employers to provide their workers with on-demand payments. Driven by its industry-leading technology platform, DailyPay, is on a mission to build a new financial system. Partnering with America’s best-in-class employers, including Adecco, Dollar Tree, and Berkshire Hathaway, DailyPay is the recognized gold-standard in on-demand pay. Through its massive data network, proprietary funding model, and connections to over 6,000 endpoints in the banking system, DailyPay works to ensure that money is always in the right place at the right time for merchants, employers, and financial institutions. DailyPay is building technology and the mindset to reimagine how money moves from when work starts.

In conversation with Jeanniey Walden, CIMO of DailyPay

Q. How do you go about innovation in your organization?

At DailyPay, we are flipping the financial system by building a financial technology platform that starts working the minute work starts. We recognized the shortage of support and resources many employers and employees encountered, especially after the outbreak of COVID-19. With our existing Pay Balance model in place, which enables employees to access their on-demand pay, we expanded our Pay Balance platform. We built innovative solutions on top to efficiently manage pay transactions for employers, employees, banks, and merchants. So this year, we launched our upgraded, all-inclusive Pay Balance Platform.

To ensure that our clients’ employees receive the best service, DailyPay launched real-time payments over the RTP^® network to fulfill employee payment needs 24/7/365 with unmatched speed and accuracy. We designed the integration so employers can continue their normal payroll administrations and processes without disruption. We created REWARD, a streamlined, instant, digital financial reward to recognize employees for their exceptional work and send them financial incentives for picking up additional shifts. Employees can easily earn extra money and know they have access to their pay whenever. We also found that adding REWARD to our Pay Balance platform has positively influenced the interaction between employees and employers. 

Until 2021, the Pay Balance platform was designed solely for employee-employer interaction. Knowing the potential of our platform, we expanded the Pay Balance to the banking industry by introducing the DailyPay Marketplace. The DailyPay Marketplace provides banks, FinTechs, and all types of financial services providers to participate in the on-demand pay movement for the first time. By partnering with DailyPay via the Marketplace, partners will gain access to DailyPay’s proprietary on-demand pay capabilities at the intersection of payroll and banking. This includes DailyPay’s flagship products that give employees access to earned pay before payday and the entire suite of DailyPay capabilities.

DailyPay is challenging this old way of thinking by utilizing the Pay Balance to give employees their earned money when they want it while supporting businesses by designing uniquely tailored systems that revolutionize how companies pay their employees and interact with pay.

Q. How do you go about business model innovation?

We’re on a mission to build a new financial system that starts working the minute work starts because, to date, the way money moves has been controlled by a set of invisible rules that make all of our lives more difficult:      

• Rules that say even if you work and earn money every day, you only get paid once every two weeks
• Rules that prevent merchants from connecting with their shoppers at the right moment when they want to buy something
• Rules that decide who gets access to the best banking services

In response, DailyPay launched its platform and solutions to resolve these issues in our society. Our core product empowers workers with control over and access to their earned wages before the traditional payday.

Our core values act as the DNA of our company, holding every aspect of our business together. Every move, from hiring employees to creating a marketing campaign, is purposefully planned and executed.

Q. How committed are you to delivering reliable solutions to customers?

To ensure a broad understanding of DailyPay, we believe training is a critical component of enrollment. We ensure managers and HR business partners are trained to support employees through enrollment. We also have employee explainer videos for the company to share across their employee communications channels. Videos are also available in our app experience to demonstrate key features and are hosted in our help center for our frequently asked questions.

Q. What capabilities should leaders have to be more innovative, according to you?

A Chief Innovation and Marketing Officer’s role differs from other leaders’ roles because, as a CIMO, you need to be able to see and identify the various functions of an organization. At the same time, you need to understand how they fit together holistically for the betterment of the overall company. This is something that we at DailyPay call “see the circle”—another one of our core values. Every DailyPayer is part of this bigger mission, and we are all working towards the same goal.

Shed light on DailyPay’s solutions.

DailyPay’s Wallet Solution is designed for everyday working Americans, many of whom are facing unprecedented financial challenges with inflation and the resurgence of the pandemic. The DailyPay wallet solution is the only digital wallet that automatically fills itself every day a user works, reflecting their pay balance in real -time. As long as the user works for a company partnering with DailyPay, their usable DailyPay Balance™ is constantly growing—effectively eliminating the traditional payday.

Guiding unforeseen innovation at DailyPay

Jeanniey Walden is the CIMO of DailyPay. She is an award-winning, entrepreneurial Chief Marketing Officer who uses innovation to transform how companies work to accelerate growth and brand impact.

Jeanniey has led global Marketing and Growth teams for Fortune 1000 companies. A recognized “Woman in Business” and an entrepreneur, she has authored multiple books and launched five companies, including the Email Experience Council.

“On-demand pay that you can trust.”