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Debunking the 4 Biggest Myths About Earned Wage Access

Earned wage access — also known as on-demand pay — allows employees to access their pay between paydays and gives them more financial flexibility. Like with any product, there may be misconceptions when considering earned wage access.

For example, some employers assume earned wage access is hard to implement, a payroll/administrative burden and could lead to employee misuse.

However, recent research has helped ease these concerns and prove the value of earned wage access. Earned wage access and DailyPay can help your business while empowering your employees.

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Some key survey results from the white paper include:

88% of companies offering earned wage access thought the implementation process was at least somewhat easy.1
61% of companies that offer earned wage access say their payroll team’s workload is lessened or unchanged.2
78% of users say food and groceries were the top area in which they used on-demand pay support the most, followed by utilities (64%) and transportation and car insurance (54%).3
94% of companies offering an earned wage access solution today believe it has a positive impact on workforce productivity.4

Download the white paper to get a better understanding of the myths around earned wage access and to discover the facts about how it can be a difference-maker for your company.

Download the white paper to read the full study findings
All information herein is for educational purposes only and should not be relied upon for any other use. The information herein does not constitute the rendering of professional advice by DailyPay. DailyPay does not warrant the completeness or accuracy of any information provided to you.

1 Hanover Research Study: Companies with EWA Solutions, September 2023:DailyPay, 2020

2 Hanover Research Study: Companies with EWA Solutions, September 2023 :DailyPay, 2020

3 Customer Perceived Savings Report, Mercator Advisory Group commissioned by DailyPay, 2022 :DailyPay, 2020

4 Hanover Research Study: Companies with EWA Solutions, September 2023 :DailyPay, 2020

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