DailyPay, a pioneering WorkTech company from the United States, is set to introduce its Earned Wage Access (EWA) services to the United Kingdom this fall.
This marks the company’s first venture outside of the US.
Josh Durodola, Vice President of International at DailyPay, highlighted the move’s strategic importance. “Expanding internationally aligns with our goal to bring earned wage access to everyone, everywhere.
“Many of our clients and partners are multinational, and they have increasingly expressed the need to offer this valuable benefit to their employees beyond the U.S. We are thrilled to bring this financial wellness tool to U.K. workers, empowering them to take control of their earned pay and improve their financial well-being.”
Recent studies underscore the need for such services in the UK. Research from the UK’s Money and Pensions Service (MaPS) indicates that over 16 million workers missed payments on essential household bills in 2023.
Furthermore, The Great British Financial Literacy Test revealed that 88% of UK workers feel insecure about their financial situations, with 32% stating that their financial status has adversely affected their mental health.
DailyPay’s services have shown to alleviate some of these financial strains. A U.S. survey found that approximately 69% of DailyPay users reduced or completely stopped incurring late fees since using the service.
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