Users of Alight Solutions’ HR, health and finance products can now offer DailyPay’s on-demand payroll services to their employees without additional charges or having to modify their existing payroll processes.
DailyPay allows workers to transfer accrued but unpaid wages to any bank account or pay card in advance of their next paycheck. The product also lets employees track their accumulated net earnings in real time.The idea of earned wages just keeps spreading. @AlightSolutions customers can now offer @DailyPay on-demand payroll services to their employees. #HR #HRTech #Payroll Click To Tweet
The companies said their collaboration provides “a seamless experience” for both employers and employees. If they wish, customers can have Alight’s and DailyPay’s platforms integrated to calculate real-time available balances and facilitate instant funds transfers for enrolled employees.
Noting that “the benefits ecosystem is constantly evolving,” DailyPay CEO Jason Lee said the companies’ relationship “underscores the fact that daily pay benefits are now becoming a mainstream benefit offering for employers in all industries.”
DailyPay’s agreement with Alight sounds much like the deal announced a few weeks ago with Paycor: Through an integration, the companies share data, calculate real-time available earned-wage balances facilitate the instant transfer of funds when employees request them. The company also has partnerships with ADP, Ceridian and SmartLinx.
As for Alight, it’s had a busy year thus far: Earlier this month the company announced the acquisition of benefits technology and services provider Hodges-Mace. At the time, Alight said the move would allow it to meet the needs “of employers of nearly any size and level of complexity, including employers smaller than what Alight has traditionally served.”
In February, Alight purchased Wipro’s Workday and Cornerstone OnDemand business for some $110 million. That deal was meant to expand Alight’s capabilities in HCM and financial solutions.
The idea of offering on-demand pay has been embraced by a rapidly growing number of employers and workers. In September 2018, for example, Walmart had 250,000 employees enrolled its advance-pay program, up from 80,000 the previous February. Analysts say the development of solutions from payroll-processing leaders such as ADP and Ceridian. Their pitch is often about promoting financial wellness, however a number of employers have expressed concern over surveys that show a large number of workers—as many as 78 percent—live paycheck to paycheck.
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