Welcome!

News Feed Item

DailyPay Powers Instant Access to Pay for Hourly Workers Through Digital Disbursements from Fiserv

Fiserv, Inc. (NASDAQ: FISV), a leading global provider of financial services technology solutions, announced today that financial technology start up DailyPay is leveraging Fiserv money movement technology to allow companies to provide employees instant access to their earned wages. DailyPay is utilizing Digital Disbursements from Fiserv to enable these payments, providing people access to their pay 24 hours a day, even on weekends and holidays.

“For the more than half of American employees that are paid hourly, having immediate access to their earnings makes a significant impact on their lives,” said Jason Lee, founder and CEO, DailyPay. “It could mean being able to pay a bill on time and avoid a late fee. For some it could mean being able to put food on the table that day. We are deeply committed to reducing stress for Americans living paycheck to paycheck.”

DailyPay technology integrates with a company’s existing payroll system so that a company’s employees can have instant access to their wages, without any changes to a company’s current payroll process. Given this unique benefit, companies that partner with DailyPay have been able to fill open job positions more quickly and have reduced employee turnover by an average of 41 percent. Since its launch in 2016, DailyPay has been used by more than 40,000 hourly workers in every state across a wide array of industries including cleaning, delivery, transportation, maintenance, home health care, and other service industries.

The Digital Disbursements solution from Fiserv being utilized by DailyPay allows companies to send payments via a simple process that requires only basic information from payment recipients. Companies can send payments in a variety of ways - to bank accounts, debit cards, social tokens including email addresses and phone numbers, and even paper checks. In each case Fiserv manages the payment process. Immediate payment options mean payment can settle into recipient accounts in seconds.

Digital Disbursements enables payments through an application programming interface (API), with a simple integration that allows companies to get up and running quickly. Digital Disbursements also includes capabilities that can streamline ongoing operations and lead to cost savings, including built-in compliance tools, access to real-time transaction information and reporting, and company-configurable options ranging from risk controls to branding.

Fiserv moves more than $1.5 trillion dollars each year, supporting payments for millions of consumers and thousands of businesses. The company has more than 20 years of experience in digital money movement, from electronic bill payments to card transactions.

“Digital Disbursements lets companies like DailyPay, which deliver payments to consumers as part of their business model, tap into the broad range of Fiserv payments capabilities to send money securely and efficiently,” said Tom Allanson, president, Electronic Payments, Fiserv. “Our payments capabilities are helping enable the digital economy, and helping businesses connect with their customers by enabling safe, reliable and fast transactions.”

For more information on Digital Disbursements, visit https://www.fiserv.com/payments/personal-payments/digital-disbursements.aspx.

About DailyPay

DailyPay is a technology company dedicated to reducing employee turnover by improving the financial lives of employees. Based in New York, DailyPay enables employees to receive their unpaid earnings before their regularly scheduled payday. Founded in 2015 by Jason Lee and Robert Law, DailyPay is helping companies offer a unique benefit which helps fill open job positions, reduce employee turnover, and improve bottom line profit. For more information about DailyPay, visit trydailypay.com or follow @trydailypay on Twitter.

About Fiserv

Fiserv, Inc. (NASDAQ: FISV) enables clients worldwide to create and deliver financial services experiences that are in step with the way people live and work today. For more than 30 years, Fiserv has been a trusted leader in financial services technology, helping clients achieve best-in-class results by driving quality and innovation in payments, processing services, risk and compliance, customer and channel management, and insights and optimization. Fiserv is a member of the FORTUNE® 500 and has been named among the FORTUNE Magazine World's Most Admired Companies® for four consecutive years, ranking first in its category for innovation in 2016 and 2017. For more information, visit fiserv.com.

FISV-G

More Stories By Business Wire

Copyright © 2009 Business Wire. All rights reserved. Republication or redistribution of Business Wire content is expressly prohibited without the prior written consent of Business Wire. Business Wire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
"Loom is applying artificial intelligence and machine learning into the entire log analysis process, from start to finish and at the end you will get a human touch,” explained Sabo Taylor Diab, Vice President, Marketing at Loom Systems, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
@DevOpsSummit at Cloud Expo taking place Oct 31 - Nov 2, 2017, at the Santa Clara Convention Center, Santa Clara, CA, is co-located with the 21st International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is ...
SYS-CON Events announced today that Datanami has been named “Media Sponsor” of SYS-CON's 21st International Cloud Expo, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Datanami is a communication channel dedicated to providing insight, analysis and up-to-the-minute information about emerging trends and solutions in Big Data. The publication sheds light on all cutting-edge technologies including networking, storage and applications, and the...
After more than five years of DevOps, definitions are evolving, boundaries are expanding, ‘unicorns’ are no longer rare, enterprises are on board, and pundits are moving on. Can we now look at an evolution of DevOps? Should we? Is the foundation of DevOps ‘done’, or is there still too much left to do? What is mature, and what is still missing? What does the next 5 years of DevOps look like? In this Power Panel at DevOps Summit, moderated by DevOps Summit Conference Chair Andi Mann, panelists loo...
SYS-CON Events announced today that EnterpriseTech has been named “Media Sponsor” of SYS-CON's 21st International Cloud Expo, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. EnterpriseTech is a professional resource for news and intelligence covering the migration of high-end technologies into the enterprise and business-IT industry, with a special focus on high-tech solutions in new product development, workload management, increased effi...
You know you need the cloud, but you’re hesitant to simply dump everything at Amazon since you know that not all workloads are suitable for cloud. You know that you want the kind of ease of use and scalability that you get with public cloud, but your applications are architected in a way that makes the public cloud a non-starter. You’re looking at private cloud solutions based on hyperconverged infrastructure, but you’re concerned with the limits inherent in those technologies.
For organizations that have amassed large sums of software complexity, taking a microservices approach is the first step toward DevOps and continuous improvement / development. Integrating system-level analysis with microservices makes it easier to change and add functionality to applications at any time without the increase of risk. Before you start big transformation projects or a cloud migration, make sure these changes won’t take down your entire organization.
Cloud promises the agility required by today’s digital businesses. As organizations adopt cloud based infrastructures and services, their IT resources become increasingly dynamic and hybrid in nature. Managing these require modern IT operations and tools. In his session at 20th Cloud Expo, Raj Sundaram, Senior Principal Product Manager at CA Technologies, will discuss how to modernize your IT operations in order to proactively manage your hybrid cloud and IT environments. He will be sharing bes...
A look across the tech landscape at the disruptive technologies that are increasing in prominence and speculate as to which will be most impactful for communications – namely, AI and Cloud Computing. In his session at 20th Cloud Expo, Curtis Peterson, VP of Operations at RingCentral, highlighted the current challenges of these transformative technologies and shared strategies for preparing your organization for these changes. This “view from the top” outlined the latest trends and developments i...
Automation is enabling enterprises to design, deploy, and manage more complex, hybrid cloud environments. Yet the people who manage these environments must be trained in and understanding these environments better than ever before. A new era of analytics and cognitive computing is adding intelligence, but also more complexity, to these cloud environments. How smart is your cloud? How smart should it be? In this power panel at 20th Cloud Expo, moderated by Conference Chair Roger Strukhoff, paneli...
Hardware virtualization and cloud computing allowed us to increase resource utilization and increase our flexibility to respond to business demand. Docker Containers are the next quantum leap - Are they?! Databases always represented an additional set of challenges unique to running workloads requiring a maximum of I/O, network, CPU resources combined with data locality.
SYS-CON Events announced today that MobiDev, a client-oriented software development company, will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place October 31-November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. MobiDev is a software company that develops and delivers turn-key mobile apps, websites, web services, and complex software systems for startups and enterprises. Since 2009 it has grown from a small group of passionate engineers and business...
SYS-CON Events announced today that GrapeUp, the leading provider of rapid product development at the speed of business, will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place October 31-November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Grape Up is a software company, specialized in cloud native application development and professional services related to Cloud Foundry PaaS. With five expert teams that operate in various sectors of the market acr...
SYS-CON Events announced today that Ayehu will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on October 31 - November 2, 2017 at the Santa Clara Convention Center in Santa Clara California. Ayehu provides IT Process Automation & Orchestration solutions for IT and Security professionals to identify and resolve critical incidents and enable rapid containment, eradication, and recovery from cyber security breaches. Ayehu provides customers greater control over IT infras...
Artificial intelligence, machine learning, neural networks. We’re in the midst of a wave of excitement around AI such as hasn’t been seen for a few decades. But those previous periods of inflated expectations led to troughs of disappointment. Will this time be different? Most likely. Applications of AI such as predictive analytics are already decreasing costs and improving reliability of industrial machinery. Furthermore, the funding and research going into AI now comes from a wide range of com...