The Walden Pond-Control When You Get Paid with Jason Lee | Thomas Renard
Host Vincent Walden chats with Jason Lee, CEO of DailyPay, a technology solution that gives employees control over when they get paid. Fortune 500 companies like Kroger, Berkshire Hathaway, Adecco Staffing and McDonald’s are customers of DailyPay. Jason points out that the daily payroll industry and the payday loan industry are completely different. While payday loans provide loans to employees that they have to repay with interest, DailyPay makes employees’ own salaries available to them, just like payroll.
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Host Vincent Walden chats with Jason Lee, CEO of DailyPay, a technology solution that gives employees control over when they get paid. Fortune 500 companies like Kroger, Berkshire Hathaway, Adecco Staffing and McDonald’s are customers of DailyPay. Jason points out that the daily payroll industry and the payday loan industry are completely different. While payday loans provide loans to employees that they have to repay with interest, DailyPay provides employees’ own salaries, just like payroll.
The business model is simple. When you are working, your employer reports your hours to DailyPay through their software. Your hours are converted into an available balance that you can access whenever you want before payday. Everything you take initially is deducted from your paycheck on payday. There is no charge to your employer, but you pay a one-time transfer fee each time you request a payment.
Making their wages available to employees when they need them helps reduce cash loss to almost zero. Jason also discovered that parking meter compliance increases when businesses implement DailyPay. See less –