Digital bank and FinTech firm Green Dot has announced a partnership with Dayforce to power its on-demand pay solution Dayforce Wallet.
This collaboration will allow Green Dot to serve as the U.S. banking provider for Dayforce Wallet, providing a range of services to employers and employees, Green Dot said in a Wednesday (Feb. 21) news release.
Dayforce Wallet is an on-demand pay solution that allows employees to access their earned wages instantly, rather than waiting for the traditional pay cycle, the release said.
Through the partnership with Green Dot, Dayforce Wallet users will have access to a comprehensive suite of services and features, Green Dot said. This includes the ability to access earned wages on demand through a mobile app, the use of linked prepaid cards for making purchases and fee-free cash withdrawals at a growing network of ATMs.
With this new partnership, Green Dot will facilitate banking services for Dayforce Wallet users in the U.S., according to the release. Existing and new users will continue to have access to their earned wages at no cost through the Dayforce Wallet app. This collaboration aims to provide employees with greater financial empowerment and accessibility.
“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,” said Deepa Chatterjee, COO, Dayforce consumer services, Dayforce. “Through innovations like Dayforce Wallet, we’re helping to make work life better for our customers and their people — and we look forward to partnering with Green Dot as our new banking partner for our award-winning on-demand pay solution.”
“Today’s workers want flexible, seamless access to their earned wages along with tools that can help with understanding and managing cash flow,” said Simran Singh, head of enterprise business development, embedded finance, Green Dot. “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.”
In October, Green Dot partnered with investing platform Stockpile to make investing and personal finance more accessible to consumers of all ages.
The partnership introduced new products, tools and features to empower individuals, PYMNTS reported Oct. 3.
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