DailyPay, a US-based provider of earned wage access, launches in the UK

New York based Earned Wage Access provider DailyPay announced its expansion into the UK as it’s first market outside of the US.

DailyPay US customers with UK operations will be the first to benefit from this service.

Josh Durodola is the vice president for international at DailyPay. He said: “Expanding globally aligns with our aim to provide earned wage access to all, everywhere.” Our clients and partners, many of whom are multinationals, have expressed a desire to extend this valuable benefit beyond the US.

We are delighted to offer this financial wellness tool for UK workers. It will empower them to take charge of their earned wages and improve their financial well-being.

DailyPay, which serves over a thousand US employers and millions employees, was valued at $1.75 billion.

DailyPay, a London-based company, can quickly provide its services by leveraging Level’s local expertise and advanced technology, as well as Level’s certification under UK regulations.

Stephen Holliday, Level’s chief executive officer, said that DailyPay’s size would accelerate our progress in achieving our mission of helping more UK workers save and borrow less. This selection validates Level’s debt-free and partner-first philosophy. DailyPay UK’s product will use the most advanced technology to ensure that the service is fully automate for payroll.”

Money and Pensions Service research shows that by 2023, 16 million UK workers will have missed paying key household bills. In the US, a survey of DailyPay customers showed that 69% had previously paid late fees but now pay them less frequently or no longer at all.

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