Green Dot Corporation a leading digital bank and FinTech, has partnered with Dayforce to offer a comprehensive suite of services, including immediate access to earned wages, and aims to support financial wellness and flexibility for employees.
Green Dot specializes in offering a wide array of banking and payments services, leveraging its BaaS platform to deliver embedded finance solutions across various partners. Dayforce, known for its HCM solutions, focuses on improving work life through its award-winning on-demand pay solution, Dayforce Wallet, which provides a critical financial wellness tool for employees.
Through this partnership, Dayforce Wallet will utilize Green Dot’s BaaS platform to enhance its on-demand pay solution. This will offer employees a feature-rich suite of services, such as instant access to earned wages via a mobile app, linked prepaid cards, and cash withdrawals at an expanding network of fee-free ATMs.
On-demand pay is becoming an essential benefit for employee engagement and retention. Surveys of Dayforce Wallet users highlight the importance of on-demand pay, with many noting it helps them manage their finances better, including timely bill payments, credit card debt reduction, and consistent savings contributions. This partnership aims to address these needs, offering significant benefits to employees and employers alike.
“At a time when employees crave more wellness support from employers, on-demand pay is a critical benefit that will soon become the norm for many employers and employees across all industries,” Dayforce COO Deepa Chatterjee said. Simran Singh, Head of Enterprise Business Development, Embedded Finance at Green Dot, expressed excitement about the partnership, “We’re thrilled to partner with Dayforce to better support employers and their employees in making on-demand pay embedded banking and finance solutions available to the huge population of Americans that need and want that flexibility.”
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