DailyPay will expand its earned wage access (EWA) services to the United Kingdom in the current fall.
The mentioned solution will be the first expansion of the specified company outside the United States. It is known that as part of the initial phase of the introduction of services in the United Kingdom, DailyPay will offer its solution to existing customers who have operations in the UK. The relevant information is contained in the company’s press release which was published on Monday, September 23rd.
Josh Durodola, vice president of international at DailyPay, said many of the firm’s clients and partners are multinational, and they have increasingly paid attention to the need to provide EWA to their employees outside the United States.
The company’s press release notes that the ability to receive an earned pay between paydays will provide users with greater flexibility in the United Kingdom, where paychecks are issued monthly.
Currently, 69% of service consumers in the United States DailyPay, who have paid late fees on household bills in the past, said that they began to do so less often or stopped making corresponding payments altogether after they started interacting with the company.
The press release also notes that employers using the decision of the firm have stated an improvement in hiring and retention.
The company is thrilled to offer a financial wellness tool to workers in the United Kingdom, which will provide them with the opportunity to control earned pay and improve financial well-being. The corresponding statement is contained in the press release.
In January, Daily Pay managed to raise $175 million in funding for its on-demand payment platform. At that time, the company announced its intention to spend the money received to accelerate growth and expansion into new markets and categories.
As we have reported earlier, DailyPay Secures $260 Million in Capital.
