Gold Mountain Partners with DailyPay
Gold Mountain Communications, a market leader in the contact center industry today announced a partnership with DailyPay, a pioneer in providing employees instant access to earned wages. Through this partnership, Gold Mountain Communications will begin offering DailyPay to all of its employees across the United States. This benefit gives Gold Mountain Communications employees the flexibility to make secure, instant transfers of earned but unpaid wages any day of the year.
Providing Options for Team Members
Gold Mountain Communications turned to DailyPay as a way to support its team members financially, and defend its workforce from overdraft fees, late fees and excessive interest rates.
“We partnered with DailyPay because it provides our team members an avenue to help them in a time of need,” said Ian McGuire, Senior Vice President at Gold Mountain Communications. “It may be for an urgent care visit, accident, utility bill, prescription, car payment, or life’s other unexpected events. It’s certainly a far more affordable option than using a credit card or payday loan.”
The Consumer Financial Protection Bureau (CFPB) underscores Ian’s point about payday loans. CFPB data shows the average interest rate on payday loans is almost 400%, and APRs on credit cards can range from about 12% to about 30%. In contrast, employees who have access to their earned but unpaid wages through a daily pay benefit pay only a flat fee for each wage transfer.
By offering the DailyPay on-demand payment solution, Gold Mountain Communications is enabling its employees to initiate and receive a transfer of funds in seconds, which can make unexpected financial emergencies feel a little less overwhelming. Employees can make instant pay transfers to any bank account, payroll card, or debit card.
DailyPay is the only instant pay technology that can be implemented at no cost to businesses that choose to offer it to their employees and is fully compliant in all 50 states. For more information, please visit DailyPay.com.
DailyPay’s mission is to give employees their first step toward financial security. DailyPay is the pioneer in providing employees real-time access to earned wages across a wide range of industries, including cleaning, healthcare, retail, transportation, and more. With DailyPay, employees can pay bills on time and avoid late fees, helping them reach their financial goals. Companies have reported that DailyPay increases employee engagement and retention and helps to support recruitment. DailyPay is backed by leading venture capital firms and world-class strategic investors. The company is headquartered in New York.