Dayforce Wallet Surpasses $4B in Payroll Delivered
MINNEAPOLIS and TORONTO, July 31, 2024 (GLOBE NEWSWIRE) -- Dayforce, Inc. (NYSE:DAY, TSX:DAY), a global human capital management (HCM) leader that makes work life better, today announced a new milestone for its award-winning on-demand pay solution, Dayforce Wallet. Across the solution's global footprint, more than $4 billion in payroll1 has been delivered through on-demand pay, early direct deposit, and paycard to employees using Dayforce Wallet.
In today's boundless workforce, organizations face the challenge of balancing employee expectations with budget realities and operational administration. To appeal to the modern workforce, employers need high-impact solutions that carry low costs and are easily implemented.
As an extension of Dayforce Payroll, Dayforce Wallet addresses these critical needs through scalable, on-demand pay. The solution gives employees greater control over their finances, while helping employers attract talent and boost retention. Uniquely built directly into the Dayforce platform's single-data architecture, its continuous calculation engine offers real-time accuracy and compliance with local market regulations.
"Dayforce Wallet has proven to be a strategic asset for our customers, keeping organizations at the forefront of payroll innovation and enhancing the financial wellness of workers," said Erik Zimmer, EVP, Corporate Development and Strategic Ventures, Dayforce, Inc. "Today's announcement validates the continued adoption of Dayforce Wallet and the value it brings to the Dayforce community. It is truly a win-win for everyone involved and we are excited to see the continued momentum in the marketplace for this unique product."
While beneficial for all workers, on-demand pay can be the key to empowering frontline workforces. According to a recent global Dayforce report, 8 in 10 frontline workers consider financial wellness benefits very or extremely important, but just over half feel they're provided with ample financial wellness benefits. Organizations that include Dayforce Wallet in their benefits package position themselves as an employer of choice and demonstrate to their workforce they care about employees' wellbeing.
"We added Dayforce Wallet to our employee benefits package, and people across the organization have responded incredibly favorably," said Michael Reese, Payroll Director, Aaron's. "Our retail frontline workers appreciate the ability to see their earned wages after each shift and the freedom to manage their money how and when they want. Dayforce Wallet has been a differentiator for us as a retention tool in today's competitive job market, showing our employees we care about their financial wellbeing."
Dayforce Wallet is trusted by customers across the United States, Canada, and United Kingdom, including Caleres, Danone North America, and The Budd Group. As of June 30, 2024, over 1,270 customers were live on Dayforce Wallet.
On November 11-14 at Wynn Las Vegas, Dayforce will host its annual Dayforce Discover global customer conference where attendees will learn how to improve, change, optimize, and build their workforce through modern innovations, including Dayforce Wallet.
Additional information:
- Learn more about Dayforce Wallet and how it drives value for organizations and their people: https://www.dayforce.com/how-we-help/dayforce/pay-accurately-and-efficiently/dayforce-wallet
- Register for Dayforce Discover: https://discover.dayforce.com/
About Dayforce
Dayforce makes work life better. Everything we do as a global leader in HCM technology is focused on improving work for thousands of customers and millions of employees around the world. Our single, global people platform for HR, payroll, talent, workforce management, and benefits equips Dayforce customers to unlock their full workforce potential and operate with confidence. To learn how Dayforce helps create quantifiable value for organizations of all sizes and industries, visit dayforce.com.
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1 As of July 2024
