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DailyPay was founded in 2015 by Jason Lee and Rob Law.[4] The company partners with employers to offer the financial wellness benefit of earned access wages to their employees. The service is often used by companies with hourly workers to help them live a better financial life and stay out of debt..
Employees who use the service are charged a fee to access their pay immediately or access it for free within 1-2 business days. The service also allows users to check their balances and track earned wages through their employers. In September 2016, the company raised $5 million in financing during its Series A Round.[9][10] In February 2018, the company raised $9 million in Series B funding.[11]
In 2018, human resources company ADP announced that it would be offering early wage access to its clients through DailyPay.[12]
In 2021, the company raised $500 in funding during its Series D round.
References
Fees
editI use DailyPay at my job, and the $2.99 fee is only for instantaneous, otherwise it is free (for 2 day processing). Also, at my work, you can't access 100% before payday. LucasGK123 (talk) 18:58, 5 November 2022 (UTC)
Recognition
editDailyPay was featured in Time Magazine’s “Best Inventions of 2021” https://time.com/collection/best-inventions-2021/6115513/dailypay-pay-balance/
In 2021, the company received an honorable mention on Fast Company's "World Changing Ideas Awards".
2020:
2020 - Cycle
2020- Kroger
2021:
2021 - Aite Novarica
2021 - Mercator
2021- Fortune Best Workplaces
2021- Newsweek - Best Place to Work
2021- Big Lots
2021- IntelyCare
2022:
2022 - Barclays
2022- PNC
2022- Kevin Coop
2022- ADP/Wisely
2022- Sonic
2022- TD Bank
2022 - Friday
2022- Sbarro
2022- Mercator
2023:
2023 - Funding
2023 - Workday
2023- Santander
2023- UBS Arena
2023- Visa+ 38.142.117.234 (talk) 19:13, 14 June 2023 (UTC)