DailyPay Improves Employee Pay Experience With SAVE 3.0
/NEW YORK, Feb. 26, 2020 /PRNewswire/ -- DailyPay, the premier provider of the daily pay benefit that transforms the pay experience — today announced SAVE 3.0 to expand no-cost ways employees can allocate earned income to their own savings account before their scheduled payday. This feature supports America Saves Week's annual celebration and call-to-action for Americans to commit to saving successfully.
Feature enhancements were defined after evaluating suggestions from America's top employers, a wide range of employees and a survey of 1,000 hourly workers regarding savings needs and preferences. Highlights of this survey suggested:
78% of respondents want cost-free ways to help them save.
Two-thirds (64%) of respondents want their savings app to deposit savings funds into their personal bank account.
Over one-half of respondents (57%) want a savings account that earns interest.
For years, DailyPay has enabled employees to access their earned income before payday. For a small fee, employees can use their income to cover unexpected bills, support lags in payday periods, and gain financial stability. By combining PAY and SAVE, DailyPay has created a superior pay experience that will have a positive impact on every employee.