By integrating with SAP® SuccessFactors® solutions, DailyPay on-demand pay solution delivers financial wellness and flexibility to millions of customers nationwide.
NEW YORK, Sept. 15, 2022 /PRNewswire/ -- DailyPay, Inc., a leader in on-demand pay, today announced that its DailyPay on-demand pay solution is now available on SAP® Store, the online marketplace for SAP and partner offerings. DailyPay integrates with SAP® SuccessFactors® Employee Central, SAP SuccessFactors Employee Central Payroll, and SAP SuccessFactors Compensation and delivers on-demand pay, also known as earned wage access, to customers.
"The power of choice and control over earned pay, especially during times of high inflation and gas prices, can be critical for working Americans trying to pay bills and making ends meet," said Michael McKeon, Senior Vice President of Channel and Partnerships Strategy, DailyPay. "Through our partnership and integration with SAP, America's forward-thinking employers will have the opportunity to offer this benefit and help drive recruiting and employee tenure."
In a tight labor market, DailyPay can be a critical solution for companies looking to hire faster and retain employees longer to meet consumers' demands by:
- Boosting Recruitment — According to DailyPay's research, employees who offer DailyPay fill open positions 52% faster.
- Retaining Top Talent — A Mercator Advisory Group study commissioned by DailyPay found that average tenure improved by as much as 73% when employers offered DailyPay.
- Increasing Employee Savings — According to an Aite Novarica study with DailyPay, 95% of those previously reliant on payday loans in any way either stopped using payday loans (81%) or reduced use (15%) after using DailyPay -saving $624-930 annually.
SAP Store, found at store.sap.com, delivers a simplified and connected digital customer experience for finding, trying, buying and renewing more than 2,000 solutions from SAP and its partners. There, customers can find the SAP solutions and SAP-validated solutions they need to grow their business. And for each purchase made through SAP Store, SAP will plant a tree.
DailyPay is a partner in the SAP® PartnerEdge® program. The SAP PartnerEdge program provides the enablement tools, benefits, and support to facilitate building high-quality, disruptive applications focused on specific business needs – quickly and cost-effectively.
DailyPay, powered by its industry-leading technology platform, is on a mission to build a new financial system for everyone. DailyPay delivers an industry leading on-demand pay solution with modern, insight-driven pay strategies that help America's leading employers to activate their workforce and build stronger relationships with their employees so they feel more engaged, work harder, and stay longer. Through its massive data network, proprietary funding model and connections into over 6,000 endpoints in the banking system, DailyPay works to ensure that money is always in the right place at the right time for employers, merchants and financial institutions.DailyPay is headquartered in New York City, with operations based in Minneapolis and Belfast. For more information, visit www.dailypay.com/press.
SAP and other SAP products and services mentioned herein as well as their respective logos are trademarks or registered trademarks of SAP SE in Germany and other countries. Please see https://www.sap.com/copyright for additional trademark information and notices. All other product and service names mentioned are the trademarks of their respective companies.
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