The DailyPay Visa Prepaid Card represents a general purpose reloadable (GPR) card with an app that allows users to transfer a portion of their earned wages to the card in real time, and with no fee if the user has updated their direct deposit to the card.
The card was designed with flexibility in mind, offering the benefits of an account without hidden fees, a minimum balance requirement, or maintenance fees. The DailyPay Visa Prepaid Card provides an additional option to DailyPay’s existing capability of disbursing funds in real time directly to the user's bank accounts via a debit card. Plus, the DailyPay Card and DailyPay’s earned wages access features can be managed in the same app, allowing users to track earning and spending all in one place, daily.
The DailyPay Visa Prepaid Card will feature card-linked offers later in the fall of 2024 that will allow users to browse an in-app marketplace of merchant-funded discounts and accrue cash back after an eligible purchase is made. This gives users an avenue for saving costs on their needed purchases, enabling their money to go further between paychecks.
Created in collaboration with Visa and The Bancorp Bank, Member FDIC, the DailyPay Visa Prepaid Card is geared to help the everyday worker take control of their finances, manage their money, and track spending, all in one mobile app.
Officials from DailyPay said the additional features to the new and improved DailyPay Visa Prepaid Card speak to their ongoing commitment to creating meaningful and relevant products to help users on their path to financial security.
Research shows that employees who leverage DailyPay are better positioned to pay bills on time, avoid late fees, and avoid accumulating credit card debt. The data shows about 7 in 10 (69%) DailyPay users who previously paid late fees do this less often or stopped completely since they started using DailyPay. In addition, 62% of users who previously incurred credit card interest charges do this less often or stopped completely since they started using DailyPay.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now