AnyDay, the world’s first vertically integrated provider of end-to-end on-demand wage pay and other financial wellness solutions, was recently launched.
AnyDay puts cash in people’s pockets by enabling employees to access their wages whenever they want. Unlike its competitors, AnyDay has built its own payments infrastructure. With no middleman in the way, AnyDay delivers on-demand pay cheaper than anyone else and will be able to deliver other financial wellness solutions, such as cashback on purchases, budgeting and savings accounts, faster and better than anyone else.
AnyDay will get to work immediately on its mission to help employers support their employees. It has signed several customers and partnered with a top-tier workforce management company to provide on-demand pay to its 1.5 million users in North America and Australia.
Employers want to help employees improve their finances, both to meet the needs of their workforce and to improve their bottom line. Even before COVID-19 struck, more than 70 percent of Americans were living paycheck-to-paycheck. A similar percentage said that they would prefer to work for an employer that offered financial planning tools. A Harvard Kennedy School study has found that the provision of financial wellness services such as on-demand pay of accrued wages benefits not only employees, but also employers through lower recruiting costs, greater retention and enhanced employee productivity.
“Employers and employees both win from on-demand pay of accrued wages," said Gerard Griffin, CEO of AnyDay. "We're really excited about leveraging our payments infrastructure to deliver best-in-class financial wellness solutions at low-to-no-cost, starting with providing employees immediate access to earned wages."
AnyDay is owned and powered by QRails, a cloud-based, API driven issuer-processor enabling clients in the US, Latin America, Europe and Australia to deliver innovative digital payment solutions.