Dayforce, Inc. (NYSE: DAY; TSX: DAY), a global human capital management (HCM) leader that makes work life better, today announced two major milestones in the award-winning Dayforce on-demand pay experience, reinforcing Dayforce Wallet’s momentum in market and the value it delivers to employees.
Dayforce Wallet, the company’s flagship on-demand pay solution, has delivered over $5 billion USD through on-demand pay, early direct deposit, and paycard to employees. This achievement highlights the platform’s growing adoption and its critical role in providing employees with greater financial flexibility.
Additionally, Dayforce is expanding on-demand pay with new direct to bank capabilities, enabling employees to route their pay directly to any personal bank account – anytime during a pay cycle – simply and securely. With Dayforce’s differentiated direct to bank capabilities, eligible employees can take charge of their finances in a way that’s easy and tailored to their individual needs.
In today’s challenging economic climate, providing employees with easy access to available pay in between traditional pay periods is more important than ever, particularly as more than three quarters of American workers report they are living paycheck to paycheck. On-demand pay is a powerful financial tool that enables employees to tap into their available pay instantly, and as needed. In fact, 80 percent of Dayforce Wallet users surveyed in a recent SSRS Research Study¹ report feeling financially empowered through access to on-demand pay.
“As an industry leader, we’re continuously innovating to better address the needs of our customers and their people and truly make work life better,” said Erik Zimmer, EVP Corporate Development and Strategic Ventures, Dayforce, Inc. “Dayforce Wallet has already been a game changing product, and this new direct to bank offering will give individuals another way to access their available pay, expanding our ground-breaking innovation and enhancing the financial empowerment of even more employees.”
Dayforce Wallet’s direct to bank capabilities will enable customers to:
- Expand visibility to available pay: Employees can view their available pay balances from the Dayforce mobile app, which will offer a dynamic snapshot of their earnings every time they log in.
- Empower employees with choice: Employees can select their preferred method of access by routing funds free to the Dayforce Wallet Mastercard®, or instantly to another personal bank account for a flat fee per transaction.
- Provide simple and convenient access: With on-demand pay enabled in the Dayforce mobile app, employees will be able to route available pay with ease using the trusted Dayforce platform.
Dayforce’s direct to bank capabilities will be available to eligible U.S. employees in Q1 2025.
Additional information
- Learn more about Dayforce Payroll and Dayforce Wallet.
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