Earned wage access solution provider and worktech firm DailyPay is expanding the reach of its platforms with a new international remittance feature.
Through its new International Remittances feature, DailyPay aims to enable users to send money to friends and family across the globe. DailyPay users will be able to easily access and transfer their earnings, enabling them to send funds globally in a single app, without needing to wait for a scheduled payday. Fintech solution ReadyRemit from Brightwell and Visa Direct is powering the new feature.
The news comes one month after DailyPay officially expanded into the UK, as part of a plan to bring its earned wage access solution to new markets.
“We are committed to identifying new and highly impactful ways to make DailyPay’s platform relevant, meaningful, and easy to use for our customers and their everyday needs,” explained Jack Rubin, SVP of consumer financial solutions at DailyPay. “Sending payments overseas with the click of a button, safely and quickly is one such example.”
Consumers in the US send more than $200billion in remittances to family and friends worldwide each year. Recognising this huge opportunity, DailyPay is expanding its existing relationship with Visa to utilise the power of real-time payments across borders.
Making a difference ‘for workers workers around the world’
“Visa supports innovative solutions that empower people to manage their money in a simple and secure way,” said Yanilsa Gonzalez-Ore, North America head at Visa Direct. “By embedding the ability to send money to cards and accounts in more than 70 countries, in real-time, within the app, Visa and DailyPay will be making a real difference for workers around the world.”
International Remittances will be available on DailyPay’s worktech platform which features the DailyPay Visa Prepaid Card, Credit Health, as well as the company’s signature earned wage access solution.
Around seven in 10 DailyPay users who previously paid late fees did less often since they started using the company’s services, according to 2023 research. In addition, 62 per cent of users who previously incurred credit card interest charges did this less often or stopped completely since they started using DailyPay.
The post DailyPay Expands Visa Partnership to Launch International Remittance Feature appeared first on The Fintech Times.