The integration through DailyPay Built-In enables employers using the APS platform to add this financial wellness benefit at no extra cost and with no effort, implementation time or change to their payroll processes, according to the release.
"On-Demand pay has emerged as a highly sought-after benefit, and we are proud to partner with DailyPay and integrate their Built-In product into our platform," APS CEO Aaron Johnson said in the release. "Their easy-to-use solution is truly the perfect addition to our APS platform, as we continue to prioritize helping our customers grow their businesses and manage their employee lifecycle."
Carly Brush, senior vice president, HCM at DailyPay, said in the release that this integration gives employers and employees access to greater financial flexibility in a centralized location.
The PYMNTS Intelligence report "Instant Loyalty: The Growing Necessity of Earned Wage Access Amid Uncertainty" found that on-demand pay, which is also known as earned wage access, provides benefits for employers and employees.
For employees, real-time access to money provides greater flexibility at a time of high living costs and economic uncertainty, according to the report.
For employers, this financial wellness benefit delivers lower churn among employees, higher engagement and stronger recruitment appeal, per the report.
When DailyPay raised $175 million to expand its on-demand pay platform in January 2024, the company said it had formed partnerships with leading employers across various industries and that employers had seen positive impacts on hiring and retention by offering DailyPay as a voluntary employee benefit.