Crisis Could Lead to a Change in How Employees Receive Pay

Early wage access startups like DailyPay and Earnin are seeing a big uptick in usage as workers look to gain access to pay as quickly as possible; the crisis could change the way people are paid long after the current situation ends; the apps are seeing a lot more interest in their product but the numbers of hours per worker are dropping just as much in some cases; “This is a moment in time when the entire industry should look at the cost of waiting to get paid,” said Safwan Shah, CEO and Founder of PayActiv, to Business Insider; investors have also shown a big interest in supporting these companies with more than $300mn invested to date; “We’re going to see small and medium-sized companies start to embrace this,” said Nigel Morris, Co-Founder & Managing Partner of QED Investors, to Business Insider. “As we come out of COVID, they are going to want to rehire rapidly. I think this will be an important differentiator when they offer packages of benefits to prospective employees.” Business Insider

  • Emily Donato

    With efforts in many different areas of the team, she helps manage, organize and execute digital and event content. She works with webinars, podcasts, social media along with managing the hundreds of speakers that attend our conferences. Emily was a part of the Zimmerman Advertising Program at the University of South Florida. She graduated in 2019 receiving a Bachelor of Science in Business Advertising.