Following this announcement, clients and partners will be enabled to integrate DailyPay with the Oracle Fusion Cloud Human Capital Management (HCM) as well.
Customers of Oracle Cloud HCM will be given the possibility to offer improved employee benefits of on-demand pay to their clients, allowing them to access their income in the moment they’ve earned it. By incorporating DailyPay into the Oracle Cloud Marketplace, the customers will be enabled to pay bills, spend, save, and invest on their own schedule, with an optimised overall control over their earnings.
The Oracle Cloud Marketplace represents a one-stop shop for Oracle clients who are focusing on finding trusted and secure business applications and solutions that provide them with efficient services, such as the ones that extend the Oracle Fusion Cloud Application.
The aim of both companies is set on improving the manner in which organisations and businesses optimise their overall employee and user experience. This will take place by offering firms the needed products and services for them to meet the needs, preferences, and demands of their users while remaining compliant with the requirements and laws of the industry at the same time. Oracle Cloud HCM clients will be allowed to bring financial equity to their workforces as well, building an improved financial system for customers. DailyPay’s strategy of development
US-based company, DailyPay provides its customers and partners with secure and efficient on-demand payment solutions, with modern, insight-driven payment strategies. The company had a couple of collaborations in the last couple of months, covering several geographies across the globe.
In January 2023, the fintech secured USD 260 million of capital, aimed to improve its overall development process domestically. The funds were also leveraged for its international expansion, as well as in its product optimisation.
According to the press release published at the time, the investment was split between new term loan funding from SVB Capital, as well as a fund that was managed by Neuberger Berman. In addition, the revolving credit facility capability was provided by Barclays.
Earlier in 2022, DailyPay announced its partnership with Visa in order to release a prepaid debit card. The product was designed to give users the possibility to access their wages the day before the payday. Moreover, the card was also set to deliver cardholders with free instant DailyPay transfers, as well as enabling them to access a network of no-fee ATMs.
Apart from the earned wages functionality, the debit card was also linked to a mobile banking platform which allowed clients to track their income, balance, and spending habits.
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