Green Dot partners with Dayforce

According to Dayforce’s officials, considering the current environment where employees require more wellness support from employers, on-demand pay represents a benefit that started to gain popularity across all industries. With Dayforce Wallet, the company focuses on improving work life for its customers and their employees and the partnership with Green Dot aims to further support its commitment. Moreover, representatives from Green Dot underlined that workers need flexible and simplified access to their wages alongside tools that can assist them in understanding and managing cash flow. The collaboration with Dayforce intends to allow the company to better support employers in making on-demand pay Embedded Banking and Finance solutions more accessible to the population of the US.

As part of their collaboration, Green Dot aims to facilitate banking services for Dayforce Wallet users in the US, continuing to increase access to earned wages for employees who receive this feature. The two companies underscored that existing and new Dayforce Wallet users are set to continue to have access to their wages at no cost through the mobile app. As an employee benefit and financial wellness tool that enables employees to retrieve their funds on demand instead of relying on a traditional pay cycle, the solution supports employee engagement and retention. This was highlighted in a survey conducted on Dayforce Wallet users, which discovered that 65% of them consider on-demand pay an important benefit, while 81%, respectively 79%, of respondents believe that is nearly as significant as retirement and life insurance. Furthermore, employees stated that Dayforce Wallet supported them in paying bills on time (84%), paying off credit card debt (67%), and setting funds into savings accounts monthly (57%).

As a financial technology and bank holding company, Green Dot is committed to providing individuals with the ability to bank in a simplified and affordable manner. With its technology platform, the company allows it to develop products and features that intend to address the financial complexities of consumers and businesses, aiming to improve how they manage and move money. Currently, Green Dot delivers a set of financial services to consumers and businesses, including debit, prepaid, and payroll cards, embedded financial and money movement services, as well as tax products, among others. The company primarily operates as a branchless bank due to its network of more than 90,000 retail distribution locations nationwide.

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