To support the delivery of on-demand pay amid the healthcare emergency, human capital management company Viventium and pay experience FinTech company DailyPay have teamed for a strategic partnership. Customers of Viventium can now provide the entire DailyPay product suite to their staffers without an additional cost to their group and without changes to the payroll setup that they already have, according to an announcement.
“In an effort to support our clients’ employees, and in particular those in the healthcare industry, we are proud to offer a greater degree of financial flexibility during this tumultuous time,” Viventium CEO Dan Neuburger said in the announcement. “Viventium’s partnership with DailyPay underscores our commitment to provide innovative HR technology solutions that enhance the employee experience for our clients.”
The tie-up brought about an integration that lets the two platforms seamlessly exchange information, calculate a balance in real time for employees who sign up for the program and help with the instant transfer of funds when asked by an employee. According to the announcement, “Viventium clients will save time and effort when offering their employees this best-in-class benefit through an industry leader in compliance.”
The company also notes that staffers will have access to their pay even prior to payday in emergency situations like the coronavirus.
Workers can move or save their earned yet unpaid funds with DailyPay to any pay card or into any bank account before the payday to come. They can also monitor the earnings they accumulate over each pay period through an available balance function. The platform, for its part, offers staffers protection against unforeseen expenses and encouragement to work scheduled or more shifts to grow their available earned balance.
In separate news, the pandemic seems to be speeding up the transition to more flexible electronic payments like PayPal and DailyPay from paper checks and direct deposit.
DailyPay, for its part, experienced a 400 percent rise in use during the time of March 14 and March 17 as workers accessed their resources prior to the time that shelter-in-place rules came into effect.