DailyPay has announced the launch of a new feature within the Visa Prepaid Card, which was developed to help users to optimise their financial stability. Following this announcement, the Savings feature is expected to be added to the newly branded DailyPay Visa Prepaid Card in order to provide customers with the opportunity to create savings goals and set aside money as they earn it.

The product represents a general-purpose reloadable card that was developed to allow clients instant wage access for no fee if they update their direct deposit to the card. In addition, both financial institutions will continue to focus on meeting the needs, preferences, and demands of clients and customers in an ever-evolving market, while also prioritising the process of remaining compliant with the regulatory requirements and laws of the industry. More information on the product launch DailyPay represents a worktech company and earned wage access solution, which was developed in order to help employers build a stronger relationship with their employees.

According to the Federal Reserve, about 19% of Americans are considered to be unbanked or underbanked, while 2 in 3 (65%) are living paycheck to paycheck, with little to no money to save for the future or cover an untimely expense. By using the new product, DailyPay users will have the possibility to access banking features even if they do not work for a company that offers DailyPay. The DailyPay Visa Card was created with flexibility in mind, which is set to offer customers the benefits of banking without hidden fees, no minimum balance requirements, and no maintenance fees.

In addition, the new Savings feature will provide a vehicle for users to begin a personal savings initiative, as well as cultivate the habit of saving and long-term financial security. At the same time, the Savings feature is set to also optimise the manner in which a user sets a goal amount. With this product, the money can be moved easily and securely from the DailyPay Card into the virtual savings jar.

.