DailyPay added capabilities that will allow HCM technology, time management and payroll service providers to offer its on-demand pay services through their product suites. The launch of the product, called ExtendPX, moves DailyPay beyond its traditional offering by opening its services to a range of vendors.
In an interview with the HCM Technology Report, Jeanniey Walden, DailyPay’s chief innovation and marketing officer, said ExtendPX will provide vendors with “a quick, seamless” way to provide on-demand pay. Rather than simply offer an integration, ExtendPX supports the full range of capabilities necessary to supporting on-demand pay efforts through a package of “integration plus technology and support services,” she said..@DailyPay launches ExtendPX, moves beyond traditional on-demand pay offering by opening services to a range of vendors. #HR #HRTech Click To Tweet
Through an open API, ExtendPX offers a full set of pay-on-demand services, which can be customized according each customer’s needs, DailyPay said. The full suite includes a white-labeled digital wallet and on-demand features such as DailyPay’s PAY, SAVE and CYCLE services. It also includes supporting features such as secure data exchange monitoring and live multi-level employee support.
Moving On-Demand Pay ‘Forward’
DailyPay CEO Jason Lee said the company has partnered with a number of HCM and time-management vendors over the last five years, and that ExtendPX’s launch “is just one of the critical steps” it’s making to move the idea of on-demand pay forward. The company said demand for on-demand pay has grown exponentially as employees embrace it, and that ExtendPX will help HR technology vendors address “triple-digit growth” in customer demand.
In addition, Walden said, the company received requests from a number of its partners and recognized it had the expertise to help them meet demand. It’s focused on facilitating on-demand pay solutions among partners more than staking out its own new territory. “We’re not hung up on branding,” she said.
In January, DailyPay launched CYCLE, a module that offers disbursement of off-cycle payroll payments electronically, rather than by paper check. DailyPay said it developed CYCLE to relieve employers of at least some of the financial and operational pressure that goes along with making payments outside of their usual payroll schedule to handle bonuses, termination pay or other payments.