Ceridian, a global human capital management software company, recently launchd the Dayforce Wallet, an on-demand pay solution that combines a digital wallet solution with a prepaid card.
The new solution is aimed at disrupting traditional payday solutions by providing employees easier, on-demand access to their pay for everyday expenses or emergency funds – all without direct fees for either employer or employee. Dayforce Wallet combines a digital wallet with a Dayforce Prepaid Mastercard to provide on-demand access to their earned wages.
According to a new national study, conducted by Maru/Blue on behalf of Ceridian, more than one-in-three employed Canadians (34 percent) revealed they run out of money between pay periods, with 42 percent agreeing employees should have the option to receive the wages they’ve earned at the end of each workday/shift.
“For far too long, we’ve been paying employees in arrears, using outdated payroll technology that hasn’t evolved with the modern workforce. This long-standing precedent places employees on their back foot financially, and in today’s climate, leads many Canadians to rely on high-interest lending options between pay periods,” Seth Ross, GM, Wallet and Consumer Services at Ceridian, said in a company news release. “With Dayforce Wallet, employers are transforming payroll for the better by offering a new employee pay experience that supports financial wellness and pays their people at the pace of real life. We are turning employee payroll into a strategic advantage for our clients.”
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