American fintech firm DailyPay, which is planning to employ close to 300 people in Belfast by the middle of next year, has confirmed that it will begin to offer its services in the UK from this autumn - the first time its earned wage access (EWA) solution will be available outside the US.
Founded in 2015, DailyPay’s unique platform allows payroll providers to offer employees early access to wages they have earned, helping them avoid payday lenders and the potential of costly charges.
“Expanding internationally aligns with our goal to bring earned wage access to everyone, everywhere,” according to Josh Durodola, vice president of international at DailyPay, which operates from New York and Minneapolis as well as Belfast.
“Many of our clients and partners are multinational, and they have increasingly expressed the need to offer this valuable benefit to their employees beyond the US.
“We are thrilled to bring this financial wellness tool to UK workers, empowering them to take control of their earned pay and improve their financial well-being.”
According to research from the Money and Pensions Service (MaPS), more than 16 million UK workers missed payments on key household bills in 2023, while a survey of DailyPay users in the US showed that 69% who previously paid late fees do this less often or stopped completely since they started using its EWA service.
DailyPay (www.dailypay.com) says that by leveraging its service, users can access their earned pay between paydays, offering much-needed financial flexibility when salaries are often issued monthly.
In January DailyPay has announced a £24 million investment in Belfast, backed by Invest NI, to take its total payroll in the city to 293 by mid-2025.
It first opened in Belfast in 2021 and currently has around 100 staff on its books, operating from McAuley House in Castle Street.
