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DailyPay debuts international remittance capability

Monday, October 28, 2024 — 13:41:35 (EDT)

NEW YORK, Oct. 28, 2024 /PRNewswire/ -- DailyPay, a leading worktech company, is expanding globally in more ways than one. Coming on the heels of its announcement of international expansion, DailyPay is broadening the reach of its platform by adding a new feature: International Remittances.

The International Remittances feature will allow DailyPay users to send money to family and friends around the world at the tap of a button. DailyPay users will be able to easily access and transfer their earnings, allowing them to send funds globally in a single app, without needing to wait for a scheduled payday. The new feature is powered by the financial technology solution ReadyRemit by Brightwell1 and Visa Direct.

"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," said 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."

International Remittances represents a new, one-of-a-kind use case that is expanding the existing relationship between DailyPay and Visa to unleash the power of real-time2 payments across borders. More than $200B dollars in remittances are sent by consumers in the United States each year to family and friends worldwide.

"Visa supports innovative solutions that empower people to manage their money in a simple and secure way," said Yanilsa Gonzalez-Ore, North America Head, 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 that features the DailyPay Visa Prepaid Card, Credit Health, and the company's signature earned wage access solution, offered by many of the world's leading employers as a financial wellness benefit. Research conducted in 2023 shows that employees who leveraged DailyPay were better positioned to pay bills on time, avoid late fees, and avoid accumulating credit card debt. The data shows about 7 in 10 DailyPay users who previously paid late fees did this less often or stopped completely since they started using DailyPay. In addition, 62% of users who previously incurred credit card interest charges did this less often or stopped completely since they started using DailyPay.

About DailyPay, Inc.

DailyPay, Inc. is transforming the way people get paid. As the industry's leading on-demand pay solution, DailyPay uses an award-winning technology platform to help America's top employers build stronger relationships with their employees. This employee benefit enables workers everywhere to feel more motivated to work harder and stay longer on the job, while supporting their financial well-being outside of the workplace. DailyPay is headquartered in New York City. For more information, visit www.dailypay.com/press.

About Brightwell

Driven by a passion for financial inclusion and empowerment, Atlanta-based financial technology company Brightwell is living out its mission to create products that help people and businesses send money securely across the globe. Brightwell's suite of cross-border payment products is simple to use, easy to integrate with, and helps our customers achieve measurable results. Processing and securing billions of dollars each year, Brightwell's products are trusted by businesses of all sizes – from startups to Fortune 500s.

The DailyPay Visa® Prepaid Card is issued by The Bancorp Bank, N.A., Member FDIC, pursuant to a license from Visa U.S.A. Inc. and can be used everywhere Visa debit cards are accepted.

The Green Sheet Inc. is now a proud affiliate of Bankcard Life, a premier community that provides industry-leading training and resources for payment professionals. Click here for more information: bankcardlife.com?orid=33533&opid=1 .

Source: Company press release.