DailyPay

When DailyPay was created, they were aiming to reimagine the way money moves, from the moment work starts. For decades, employees were controlled by the invisible rules of money. Rules that only give clients biweekly access to their pay even when they worked and earned their pay. Rules that decide who has access to the best banking services. Rules that say clients pay your rent in advance but get paid by their employer in arrears.

These rules, written and enforced by an analog 20th-century payroll structure, have forced the majority of the American workforce to turn to predatory financial products when short on cash to make ends meet or to pay for an emergency expense. When tens of millions of households face financial hardship, it bleeds into work and ultimately the economy. People are less engaged at work, companies make less profit, families are less secure and there’s less money circulating throughout the economy.

To tackle these challenges, DailyPay’s Pay Balance was created where the new financial system is centered around the employee. This groundbreaking technology gives the users a real-time accumulating balance of available funds as they work throughout the pay period. Users, who once relied on overdraft and credit to make it to the next payday, begin to save their hard-earned pay before payroll is even run. By putting money in the hands of the people when they need it and when they earn it, DailyPay can break the negative cycle of financial stress that has endured for too long.