Earned Wage Access Use and Outcomes: Findings From a Survey of DailyPay Customers

A majority of surveyed respondents believe that DailyPay has allowed them to worry about money less, budget and plan better, and reduce debt.

Boston, September 9, 2021 — Many consumers face timing mismatches between the day they are paid and their bill due dates. Others lack even a modest amount of savings that they can quickly tap into if an unexpected expense pops up. When these issues arise, these consumers may turn to costly strategies to make ends meet. Over the last decade, a growing number of companies have started to offer earned wage access programs in partnership with employers to help solve these issues. 

“This research answers the key question—are consumers who use payday loans or overdraw their bank accounts able to change this behavior once they are able to use earned wage access products like DailyPay,” explains Aite-Novarica Group Strategic Advisor Leslie Parrish. 

This report examines the user experience for customers of a leading EWA provider, DailyPay. It reports on the strategies consumers used before using this EWA service, their reasons for using it, and the changes in their financial circumstances that they attribute to the product. The insights in this report are informed by an Aite-Novarica Group online survey of 1,114 DailyPay users conducted in May 2021 and sponsored by DailyPay. 
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​​​​​​To request a press copy of this report or to speak with Leslie Parrish about this topic, please contact us at [email protected].

About Aite-Novarica Group:
Aite-Novarica Group is an advisory firm providing mission-critical insights on technology, regulations, strategy, and operations to hundreds of banks, insurers, payments providers, and investment firms—as well as the technology and service providers that support them. Comprising former senior technology, strategy, and operations executives as well as experienced researchers and consultants, our experts provide actionable advice to our client base, leveraging deep insights developed via our extensive network of clients and other industry contacts. Visit us on the web and connect with us on Twitter and LinkedIn.

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