Gratuity Solutions and DailyPay Integrate to Help Mutual Customers Reach Financial Freedom, Boosting Hiring and Retention Efforts
Gratuity Solutions, a leading SaaS provider of the digital payment software, PayDay Portal, today announced its partnership with DailyPay — the leading provider of on-demand pay. This strategic partnership enables Gratuity Solutions’ clients to provide the full suite of DailyPay products and services to their employees.
Through this partnership with DailyPay, Gratuity Solutions’ clients can access DailyPay’s products at no additional cost to the employer and with no changes to their existing payroll setup. The application programming interface (API) integration enables the two platforms to share data seamlessly. Additionally, employees who use DailyPay can access their earned wages through instant transfers or free next-day transfers.
“Gratuity Solutions offers employers a way to automate the calculation, allocation, and payout of TIPS, Wages, Service Charges, and Commissions. With this ability employers are able to focus on providing great customer service all while increasing profitability and reducing turnover,” said Aleks Stepanovich, Co-Founder and CIO at Gratuity Solutions. “With our integration with DailyPay, employers get the full benefit of both companies and are able to provide stableness for their workforce in an environment that is often challenging.”
Gratuity Solutions’ PayDay Portal is customizable and calculates and distributes data in real-time. Now with its integration with DailyPay, employees have the power to take control of their financial wellness through on-demand pay benefits. The solution effectively eliminates the traditional bi-weekly pay cycle.
With the continuous labor shortage impacting employers nationwide, Gratuity Solutions’ integrated partnership with DailyPay enables its clients to be at the forefront of hiring and retention.
“As a result of the continuous Great Resignation, employers are struggling to stay competitive in this job market. With DailyPay, employers have an additional asset to include in their suite of benefits—and it’s often on-demand pay benefits that result in talent choosing one job over another, or staying at their current job longer,” said Michael McKeon, Senior Vice President of Channel and Partnerships Strategy, DailyPay. “Through our partnership, Gratuity Solutions’ clients have a new opportunity to support their employees with an essential financial wellness benefit.”
A survey conducted by DailyPay found that with DailyPay, employers can increase retention by up to 72%, improve employee satisfaction by up to 73%, thereby reducing overall turnover costs, and, on average, employees who use DailyPay save over $1,200 annually in overdraft fees, late fees and predatory payday loans.
Gratuity Solutions is the only commercially-available SaaS provider that fully automates end-to-end processing of tips and other payroll and labor data, leveraging original expertise, POS integrations and automated tip management, setting the standard for digital payments and same-day pay in the hospitality industry. As the first company to load TIPS or tip income onto employee pay cards, Gratuity Solutions overcomes traditional industry pain points, including time consumed by manual calculations, human error, gratuity distribution, disbursement and reporting compliance. Gratuity Solutions is creating a world where automated Paydata, is accessible to everyone. With over 14,000 locations across the U.S. and managing over $8 billion in TIPS, it’s revolutionizing the fintech industry. For more information and insight on Gratuity Solutions, visit www.gratuitysolutions.com.
DailyPay, Inc., powered by its industry-leading technology platform, is on a mission to build a new financial system for everyone. DailyPay delivers the industry’s leading on-demand pay solution with modern, insight-driven pay strategies that help America’s leading employers to activate their workforce and build stronger relationships with their employees so they feel more engaged, work harder, and stay longer. Through its massive data network, proprietary funding model and connections into over 6,000 endpoints in the banking system, DailyPay works to ensure that money is always in the right place at the right time for employers, merchants and financial institutions. DailyPay is headquartered in New York City, with operations based in Minneapolis and Belfast. For more information, visit www.dailypay.com/press.