DailyPay, a worktech company, is expanding globally in more ways than one.
DailyPay stated that it now focused on broadening the reach of its platform by adding a new feature: International Remittances. The International Remittances feature will enable DailyPay users to send funds at the “tap of a button.”
DailyPay users will be able to access / transfer their earnings, allowing them to send funds in a single app, without having to wait for a scheduled payday.
As mentioned in the announcement, the feature is powered by the financial tech solution ReadyRemit by Brightwell and Visa Direct.
International Remittances represents a use case that is expanding the existing relationship between DailyPay and Visa to “unleash the power of real-time payments across borders.”
Over $200B dollars in remittances are sent by consumers in the United States each year to “family and friends worldwide.”
International Remittances will be available on DailyPay’s worktech platform that features the DailyPay Visa Prepaid Card, Credit Health, and the company’s signature earned wage access solution, “offered by many of the world’s leading employers as a financial wellness benefit.”
Research conducted last year reveals that workers who leveraged DailyPay were better positioned to pay “bills on time, avoid late fees, and avoid accumulating credit card debt.”
The data shows about 7 in 10 DailyPay users who paid late fees did this less often or “stopped completely” since they started using DailyPay.
In addition, 62% of users who incurred credit card interest charges “did this less often or stopped completely” since they started using DailyPay.
As covered, DailyPay, Inc. is transforming the “way people get paid.”
As the on-demand pay solution, DailyPay uses a tech platform to help employers build relationships with their workers.
This employee benefit enables workers to feel more “motivated” to work harder and stay longer on the job, while supporting financial well-being outside of the workplace.
DailyPay is headquartered in NYC.
Driven by a passion for financial inclusion, Atlanta-based financial technology company Brightwell is living out its mission to create “products that help people and businesses send money securely across the globe.”
Brightwell’s cross-border payment products may be integrated easily, and helps customers achieve “measurable results.”
Processing and securing billions each year, Brightwell’s products are said to be trusted by businesses.
The DailyPay Visa Prepaid Card is issued by The Bancorp Bank, N.A., Member FDIC, pursuant to a license from Visa U.S.A. Inc. and can “be used everywhere Visa debit cards are accepted.”