There is no doubt DailyPay is fitting a need in the market. The current payroll system (typically operating on a bi-weekly schedule) can leave hourly or lower-income workers in a bind when sudden financial needs arise.
However, examine the incentives of this kind of product...in order for DailyPay to make $, workers need to be cash poor. That statement may sound black and white, as I know they have other promoted products regarding savings, budgeting, etc. But they make money off of need. At least in their current state.
Other cons include:
- Not a start up culture, very finance/ investment banking culture given that is where a lot of the leadership started their careers
- Competitive environment
- Very 'in office' culture, not necessarily covid-conscious policies
- Equity/ stock option plans are a black box, try to do your own research and ask good questions before accepting a job here