DailyPay has announced their digital wallet solution designed for everyday working Americans, many of whom are facing unprecedented financial challenges amid the pandemic.
The DailyPay wallet solution is to be the only digital wallet that automatically fills itself every day a user works, reflecting their pay balance in real-time.
According to the press release, DailyPay solution is providing instant access to earned money and eliminating the need for payday loans, or the risk of late fees or overdrafts. This is expected to bring equity to the financial system and uplifting all working Americans
The DailyPay wallet solution (formerly called the PayEx® platform) is connecting to over 6,000 financial institutions supporting any bank account, debit card or prepaid card.
In addition, the DailyPay wallet allows users to save money as they earn it and supports an array of capabilities including bill pay, investing, buying goods and services, and more. By providing transparency around, and access to, money as it’s earned, DailyPay users have total transparency into their earnings and more control over their money.
We’ve reported that BNP Paribas completed transfer of global prime finance from Deutsche Bank.