Cycle by DailyPay is a new feature in the DailyPay Partner Portal that enables an employer to send paperless off-cycle payments to any employee at any time. It is designed to make the off-cycle employee payment process drastically easier.
Whether it is payroll corrections, termination pay or bonuses, we recognize processing off-cycle payments has always been an expensive pain point for a payroll team. On the other hand, Waiting for a paper check to correct a payroll error can be a significant financial burden, forcing employees to pay their bills late or struggle to cover urgent expenses.
CYCLE eliminates the costs of paper checks and enables companies to push a digital payment to any employee immediately.
- It also enables employees to receive their payments as soon as within same day of request, via any accounts, instead of waiting for a paper check to be processed, distributed and cashed.
- DailyPay provides funding for all CYCLE payments at no cost to employees.
The CYCLE process is quick, paperless, and simple. Most importantly, it already integrates to existing Partner Portal set-ups and existing DailyPay user information; no additional install or implementation is required.
For an overview of the product as whole, please see the attached PDF.