Dayforce Wallet, a digital pay solution from Dayforce, Inc., has processed more than $5 billion USD in on-demand pay, early direct deposits, and paycard transactions, the company announced Monday. The milestone underscores the growing adoption of the tool, which provides employees with flexible access to their earnings.
In addition to surpassing the $5 billion mark, Dayforce is launching a direct-to-bank feature for its on-demand pay system. This new capability will allow employees to transfer earnings directly to any personal bank account during a pay cycle. The feature will be available to eligible U.S. employees starting in the first quarter of 2025, according to the company.
Erik Zimmer, executive vice-president of corporate development and strategic ventures at Dayforce, said the direct-to-bank option builds on the platform’s mission to enhance financial accessibility for employees. “Dayforce Wallet has already been a game-changing product, and this new offering will give individuals another way to access their available pay,” Zimmer said.
The announcement comes at a time when financial flexibility is in high demand. According to a survey by SSRS Research, 80 percent of Dayforce Wallet users reported feeling more financially empowered through on-demand pay access. The service allows employees to tap into their earned wages between traditional pay periods, a tool that can be critical for those living paycheque to paycheque—a reality for more than three-quarters of U.S. workers, according to industry reports.
The direct-to-bank feature will offer employees greater visibility into their earnings through the Dayforce mobile app, which displays real-time pay balances. Users can also choose to route funds either to a Dayforce Wallet Mastercard or directly to a bank account for a flat transaction fee.
Dayforce Wallet’s growing usage reflects a broader trend among employers seeking innovative ways to support employee financial well-being. While the service is currently available only in the U.S., Dayforce said its platform is designed to scale and adapt to evolving workforce needs globally.