DailyPay has released a Friday Tips function within its platform that will give tipped workers instant access to their cashless tips for no fee. When tipped employees set their direct deposit to the Friday Card, they can access their tips, instantly transfer them to the Friday Card for no fee, and spend them using a Visa general purpose reloadable prepaid card with no minimum balance requirement, no monthly fees, no maintenance fees and access to more than 55,000 in-network ATMs through the Allpoint Network. The platform also provides visibility to all earned pay, which includes tips in the DailyPay balance.
Friday Tips also offers benefits for employers. For example, since employees can access their tips digitally, there’s no need for them to keep cash on hand to disburse tips.
“The development of Friday Tips demonstrates DailyPay’s continued commitment to innovations that benefit both employees and employers alike,” Darlene Miranda, VP, product management, UX design and research at DailyPay, said in a statement. “We are always searching for new ways to reimagine how changing pay processes can empower employees with financial visibility and control, which in turn, results in positive business outcomes such as increased retention.”