Funds disbursement - MyDayMyPay
MyDayMyPay is an innovative service that allows your employees to receive a portion of their salary for the hours they’ve already worked but have not yet been paid for.
Pri-Num’s MyDayMyPay solution is based on Visa Direct, a service that facilitates fast and real-time fund transfers, allowing you to move money when you or your staff need it most.
MyDayMyPay enables merchants to access their cash flow daily, consumers can receive payouts via the cards they know and trust, and families send and receive money all around the world.
Our flexible payment service allows an employee to receive earned money on a daily basis for each day worked or for each service performed. MyDayMyPay’s mission is to increase the well-being of your dedicated staff by reducing their financial burden through access to earned funds on a daily basis.
About 8 out of 10 U.S. full-time workers are living paycheck to paycheck, according to data from CareerBuilder. Furthermore, research shows that 84 percent of employees worry about finances while at work, which negatively impacts employee health, employee turnover, and productivity.
With MyDayMyPay, you can empower your staff and help them mitigate stress at work by offering them access to their pay as they need it. This technology is particularly well-suited for companies in the Gig Economy, retail, delivery, and insurance businesses.
Here are some advantages of MyDayMyPay
- Attract talent — 95% of employees are interested in working for an employer that provides early wage access;
- Retain staff — 89% of employees report they would work for a longer period of time for an employer offering early wage access;
- Secure and reliable — All transactions on MyDayMyPay are protected by a multi-layered system of risk and compliance controls;
- Better user experience — MyDayMyPay can be built into your UX/UI, offering fast, easy-to-use payment experiences.
- Cash when you need it — MyDayMyPay allows an employee to receive earned money on a daily basis for each day worked or for each service performed;
- Move money — Quickly and easily transfer money to your friends or family anywhere in the world;
- Peace of mind — Emergencies happen. MyDayMyPay allows you to access funds when you need them most;
- Real-time payments — MyDayMyPay offers real-time payments to cards enabled in 107 countries domestically.