Looking at these four industries and DailyPay usage reasons, we are starting to see various changes that differ greatly by industry. We’ve summarized our observations below (fully anonymized), as well as in a report of more detailed industry trends. We expect to refresh this data periodically.
A payday loan is typically a sum of money that will be paid back in the future, under pre-determined terms. A paycheck advance is paying an employee their already earned pay, slightly before payday.