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The DailyPay Blog
Ideas on Improving Employee Engagement and Retention

neo-payday lenders, #financialwellness, daily pay benefit

How Payday Lenders Masquerade as On-Demand Pay Providers

The results are in: a 2020 poll conducted by Morning Consult and commissioned by the Center for Responsible Lending, a nonprofit aimed at protecting consumers, found that 70% of registered voters approve of limiting interest rates on consumer loans to 36%¹. The poll found that not only does this measure have[...]

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on-demand pay, #dailypay, #financialwellness

5 Reasons to Use DailyPay Instead of Borrowing From Your 401(k)

While taking money out of your 401(k) may seem like an easy option during a time of financial need, the repercussions of that decision could be devastating to your financial future. What may seem like a “quick fix” in the moment can cause ripple effects of damage for years to come. There are many reasons why[...]

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transparency, #dailypay, #financialwellness

How Subscription Services are Quietly Destroying Financial Wellness

Recently, I checked my credit card bill and found that I had been paying a $19 a month subscription to DuoLingo for Spanish lessons. I flashed back to a moment 2 years ago where I thought I should really learn more fluent Spanish. I had completely forgotten I subscribed and realized I had just paid close to $500[...]

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on-demand pay, #dailypay, #financialwellness, #dailypaynation

Whose Loan Is It, Anyway?

While paying employees biweekly or semimonthly may be standard practice, it’s time to analyze whom that schedule truly benefits. When employees are not paid immediately for their labor, they are essentially giving their employer a loan for the entire duration of the pay period. And while this schedule may reduce[...]

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#dailypay, #financialwellness, #payexperience, #employeeengagement, #futureofwork, #dailypaynation, #fintech

2019: The Year of Awakening

2019 was a year of awakening for the #dailypay benefit — a year when three distinct groups awakened to this life-altering benefit and industry. Here is my take on 2019 and my prediction of what's to come in 2020

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#dailypay, #financialwellness

Employees Beware: The Dangers of Allowing Debiting

Many who want access to their pay before payday are told by providers that they need to allow access to the bank account where their payroll direct deposits are made. It may seem innocuous, and it is a legal and somewhat normal way of doing business nowadays, but there are pitfalls, and such a requirement should[...]

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Employees stay longer with DailyPay

DailyPay enables your employees to access their pay before payday, empowering them to meet their financial goals. Employees that find financial security at your company stay longer, reducing your turnover and improving bottom line profits.

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