On The Web

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Domains

Pinwheel is the API platform for income verification that every fintech and neobank needs

June 10 2020

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• Income

“And so came the idea for Pinwheel, an API layer for payroll data that handles everything from income and employee verification to easily switching and managing direct deposit. The company officially came out of stealth today and announced that it has raised a $7 million seed round from Josh Kopelman at First Round Capital and […]

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Deals

CloudPay Raises $35M in Growth Capital

August 5 2020

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• Income

“CloudPay provides managed global payroll services to multinational organizations through a single, unified cloud solution. It processes payroll in line with often complex local and country-specific requirements, eliminating error-prone manual processes and ensuring timely payments. CloudPay’s solution guarantees accurate payroll processing across 130+ countries in more than twenty-five languages.”

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Deals

Marc Benioff and PayPal Back Payday Loans Alternative Even

June 19 2020

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• Income

“Salesforce chief Marc Benioff and PayPal Ventures are joining the latest funding round for Oakland-based start-up Even, which aims to provide a better alternative to payday loans. Why it matters: Historically, those who need an advance on their pay often have few options and pay extremely high fees and interest rates. Details: Even says it isn’t disclosing […]

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Domains

Twitter’s Jack Dorsey Is Giving $3 Million to Help Test Free Cash Payment Programs for Americans

July 14 2020

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• Income

“Twitter and Square CEO Jack Dorsey, who is worth more than $7 billion , is pledging $3 million to support experiments in free cash payments to Americans, he announced Thursday. Dorsey is giving the money to Mayors for a Guaranteed Income, a coalition of mayors who advocate for universal basic income, as well as invest in […]

On The Wires

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Domains

Paychex Releases HR Industry’s First Real-Time Payments Solution

May 18 2020

• in
• Income
• Real-Time Payments

“Paychex, Inc. , a leading provider of HR, payroll, benefits, and insurance solutions, is now the first HR solutions provider to give business owners the ability to leverage real-time payments to deliver pay to their employees immediately – a capability that has become increasingly important during the coronavirus (COVID-19) pandemic. Leveraging The Clearing House RTP® […]

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Domains

Ceridian Transforms the Traditional Payday With Launch of Dayforce Wallet

May 12 2020

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• Income

“Ceridian (NYSE: CDAY; TSX: CDAY), a global human capital management (HCM) company, announced today the availability of Dayforce Wallet – an on-demand pay solution. Dayforce Wallet leverages the Dayforce platform’s unique continuous calculation capabilities for an accurate, on-demand payment, instead of an approximation of earnings. It disrupts the antiquated concept of a fixed pay period […]

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Domains

DailyPay Launches CYCLE, a Game-Changer for the Payroll Industry

June 3 2020

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• Income

“Saving time, money and hassle, the new DailyPay CYCLE feature enables companies to immediately reduce or even eliminate paper checks and manage final pay distribution. CYCLE was designed to support increased financial flexibility for the American workforce, which has become increasingly important during the COVID-19 pandemic. CYCLE has multiple uses and benefits. It can be […]

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Domains

Paychex Sends $4.6 Million in Real-Time Payments Over Two Weeks

June 5 2020

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• Income
• Real-Time Payments

“Paychex, which launched real-time payments for payroll only two weeks ago, has already sent $4.6 million in payroll over the RTP® network, according to Paychex, a provider of human resource payroll and benefits solutions to more than 12 million employees.”

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Domains

 AnyDay Is Payday

July 17 2020

• in
• Income

“AnyDay , the world’s first vertically integrated provider of end-to-end on-demand wage pay and other financial wellness solutions, launches today. AnyDay puts cash in people’s pockets by enabling employees to access their wages whenever they want. Unlike its competitors, AnyDay has built its own payments infrastructure. With no middleman in the way, AnyDay delivers on-demand […]

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Deals

Wagestream Goes Mainstream As It Completes a £20m Series B Funding Round

July 7 2020

• in
• Income
• UK

“Income streaming provider, Wagestream, which enables employees to access their earned wages in real time, today announced it has completed a £20m Series B funding round.  Wagestream, which enables staff to draw down a percentage of their earned wages any day of the month for a flat £1.75 fee, has seen demand for its product skyrocket among […]