UBS Arena, home of the New York Islanders, has partnered with DailyPay, providing the essential financial wellness benefit of on-demand pay to UBS Arena employees.
As part of the agreement, DailyPay will be “designated as the official ‘On-Demand Pay Partner’ of UBS Arena and the New York Islanders.”
This partnership is made possible “through DailyPay’s collaboration with Oak View Group (OVG), the global venue development, advisory, and investment company for the sports and live entertainment industries.”
OVG Global Partnerships “initiated and negotiated this deal on behalf of UBS Arena and the Islanders.”
By offering DailyPay as part of its financial wellness benefits package, UBS Arena employees will “have voluntary access to their pay as they earn it.”
This gives them the flexibility “to pay bills, spend, save, and invest on their own schedule, eliminating the need to rely on a traditional scheduled payday.”
This financial benefit and flexibility “allows employees to avoid the use of high-interest payday loans.”
Research from the Aite Novarica Group, “commissioned by DailyPay, shows that 95% of those who were previously reliant on payday loans in any way either stopped using payday loans (81%) or reduced use (15%) after using DailyPay.”
Kim Stone, President of UBS Arena and Executive View President of Oak View Group East Coast, said:
“Our arena staff members are the backbone of our world-class experience —nearly all of our fans interact with them at some point during their visit. When it comes to our prioritization of employee experience, we are committed to providing benefits that employees want and need. Our partnership with DailyPay allows us to continue supporting our staff members by providing them with the critical financial wellness benefit of earned wage access.”
Michael Lehr, Executive Vice President of Global Partnerships for the Islanders, said:
“The Islanders recognize the hard working UBS Arena staff that helps ensure our fans, the most passionate and loyal in all of sports, have an incredible experience every time they attend a game. We applaud the efforts of our partner DailyPay in their mission to support the financial wellness of those dedicated team members.”
The partnership is scheduled to begin early summer.