Ceridian Transforms the Traditional Payday with Launch of Dayforce Wallet
11 May 2020 - 11:00PM
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
– allowing people to be paid in real-time, at any time.
The launch comes at a time when making ends meet is of
heightened concern, with many individuals across income levels and
employment types living paycheck to paycheck. Using the Dayforce
Wallet app, employees can request a payout of their earnings
whenever they need it. They can also manage their finances, check
their balance, and track their transaction history.
“Now more than ever, organizations need to embrace modern
technologies to create experiences that drive engagement and
provide quantifiable value to employees,” said David Ossip,
Chairman and CEO, Ceridian. “Dayforce Wallet fundamentally changes
the concept of the traditional payday as employees can request
access to their pay as they earn it and need it, with no direct
fees for the employer or employee.”
Ossip added, “Dayforce Wallet is a game-changer and it can play
an important role in immediately delivering emergency funds or
other forms of financial support to employees whose circumstances
may be adversely impacted.”
“With a large base of front-line manufacturing employees, we
were looking for an intuitive app-based solution that would
resonate with our employees’ needs, and drive value for our people
and our business,” said Gavin Flynn, Director, HR Information
Systems, HR Technology, Danone North America. “Dayforce Wallet was
a perfect match with easy administration, and at no cost to our
organization or our employees. Using Dayforce Wallet, our employees
can make any day a payday and are empowered to take control of
their own financial wellbeing.”
Dayforce Wallet is now available to Dayforce customers in the
U.S. as a downloadable app on the Apple App Store and on Google
Play.
About Dayforce Wallet
- Dayforce Wallet combines a digital wallet with a Dayforce
Prepaid Mastercard for an experience that gives workers access to
their earned wages on-demand.
- Net pay is continuously calculated as an extension of the
Dayforce platform. On-demand pay requests are processed as a
regular payroll with the appropriate tax remittances for an
accurate payment.
- There are no direct fees to either the employer or employee to
participate.
- Dayforce Wallet is compliant with federal, state, and local
remittances.
- Existing payroll process and funding schedule is maintained,
including the funding, timing, and close-out of pay. This means
administrators do not have to spend time reconciling at the end of
the pay period.
To learn more about Dayforce Wallet, visit:
www.dayforcewallet.com.
About Ceridian
Ceridian. Makes Work Life Better™.
Ceridian HCM Holding Inc.
(“Ceridian” or the “Company”) (NYSE:CDAY) (TSX:CDAY) is a
global human capital management software company. Dayforce, our
flagship cloud HCM platform, provides human resources, payroll,
benefits, workforce management, and talent management
functionality. Our platform is used to optimize management of the
entire employee lifecycle, including attracting, engaging, paying,
deploying, and developing people. Ceridian has solutions for
organizations of all sizes. Visit
Ceridian.com or follow
us @Ceridian.
Media Contact:Matthew
Duffinmatthew.duffin@ceridian.com+1 647.248.0752
The Dayforce Prepaid
Mastercard® is issued by Central Bank of Kansas City, Member FDIC,
pursuant to a license from Mastercard International Incorporated.
Mastercard is a registered trademark, and the circles design is a
trademark of Mastercard International Incorporated. Certain fees,
terms, and conditions are associated with the approval, maintenance
and use of the Card. You should consult your Cardholder Agreement
and Fee Schedule. If you have any questions regarding the Card or
such fees, terms, and conditions, you can contact us toll-free at
1-877-723-7434, 24 hours a day.
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