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The DailyPay Blog

Employees Stay Longer with DailyPay

WALMART MISSES THE TARGET WITH ITS EARLY WAGE ACCESS PROGRAM

 

It’s all about perception

A recent Philadelphia Inquirer article has done a comprehensive breakdown of Walmart’s earned wage access program and how employees were confused by the complex offering.

 

The article describes one worker who, after realizing that her paycheck was $200 short and with a car payment looming, remembered that Walmart offered a savings platform called Even. After signing up “for free,” in reading Even’s Terms of Service, this worker was surprised to learn that it actually cost $6/month to have any access to half of her paycheck. While the program was advertised as free, she was surprised to learn that the fees began immediately following the first month. With no clear guidance on how to unsubscribe, the employee turned to Walmart for help and eventually stopped using it.

 

 


Written by DailyPay

DailyPay, the leading provider of the daily pay benefit — a benefit offered through employers that allow employees to receive instant access to their earned wages, works across a wide range of industries, including quick service restaurants, hospitality, retail, healthcare and other services. One in six Americans now has access to DailyPay through our trusted payroll service partners, including ADP, Paycor, SmartLinx, Netspend and other HR and payroll technology providers, who offer the daily pay product to their customers. With DailyPay, employees can pay bills on time and avoid late fees, helping them to reach their financial goals. Companies have reported that DailyPay increases employee engagement and retention and helps to support recruitment. DailyPay is backed by leading venture capital firms and world-class strategic investors. The company is headquartered in New York.


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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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