Daily Pay Apps Allow Workers To Tap Into Current Earnings Ahead Of Payday


IT IS GROSS OUT THERE. IT WILL GET BETTER TODAY. MATT’S FORECAST IS COMING UP. A NUMBER OF MAJOR EMPLOYERS ARE ALLOWING EMPLOYEES TO HAVE A PAYDAY EVERY DAY, IF THEY WANT. UBER, McDONALD’S AND WEST GATE RESORTS ARE PARTNERING WITH SO-CALLED PAYDAY APPS. KENNETH CRAIG FOUND OUT HOW IT ALL WORKS. Reporter: JERRY IS AN INSPIRING ACTOR WHO WORKS A TEMPT JOB FOR EXTRA CASH. ALWAYS WORRIED ABOUT SURPRISE EXPENSES. EMERGENCIES ALWAYS POP UP. THEY POP UP WHEN YOU LEAST EXPECT THEM. Reporter: NOW HE HAS A LIFELINE IN THE PALM OF HIS H AND. HE IS ONE OF 100,000 PEOPLE USING DAILY PAY, AN APP THAT ALLOWS WORKERS TO TAP INTO THEIR CURRENT EARNINGS BEFORE PAYDAY. I USE IT TWICE A MONTH WHEN I’M IN A BIND AND I NEED CASH FOR METRO. Reporter: JASON LEE IS THE COMPANY’S CEO. OUR USERS REALLY RANGE FROM THE MINIMUM WAGE HOURLY EMPLOYEE ALL THE WAY UP TO SOMEONE WHO MAKES SIX FIGURES A YEAR. Reporter: DAILY PAY IS ONE OF SEVERAL IN INSTA PAY APPS. IT IS $20 OR $60. IT IS NOT MASSIVE AMOUNTS. THIS IS NOT FOLKS TRYING TO BUY A NEW FLAT-SCREEN TV. THIS IS PEOPLE WHO HAVE RENT COMING DUE AND I’M $80 SHORT. Reporter: FEES RANGE FROM $1 TO $3 A TRANSACTION. A FAR CRY FROM HIGH-FEE PAY DOWN LOANS. CRITICS SAY THIS LEADS TO BAD HABITS LIKE NOT PLANNING AHEAD

2 comments on “Daily Pay Apps Allow Workers To Tap Into Current Earnings Ahead Of Payday”

  1. rustydog0329 says:

    That's great! Eventually these people won't have any money left on payday.

  2. DailyPay says:

    We're DailyPay – the app mentioned in this video! Let us know if you're interested in learning more about partnering with us to offer your employees this financial wellness benefit https://www.dailypay.com/

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