BMO Leverages DailyPay to Launch Earned Wage Access to Millions of Workers

BMO and DailyPay logos on a dark blue background.

DailyPay has partnered with BMO to provide earned wage access to employees of BMO Commercial Bank’s clients. This provides workers with real-time access to their wages as they earn them, because the funds are deposited in their direct-deposit account and available for immediate use. BMO Commercial Bank’s clients can leverage this benefit at no cost and with little or no changes to their payroll.

“More than ever before, businesses require flexible digital payment solutions that reflect the changing economy and new expectations surrounding employees’ payment preferences,” said Andrew Harrison, Head of U.S. Digital Partners at BMO. “Partnering with DailyPay is one of the many ways we’re empowering our clients to help drive progress for their employees by providing innovative and convenient payment solutions and supporting a healthy workforce.”

 By joining forces, DailyPay and BMO have leveraged insights across fintech, commercial banking, and BMO’s deep industry expertise to enable a turn-key solution for a variety of industries. This partnership aims to tackle one of the true problems facing millions of working Americans – the ability to pay bills on time during uncertain economic times. With inflation, consumer goods, and housing costs stubbornly high, unexpected expenses have become all too common and millions of hard-working Americans are struggling to make ends meet.

 To tackle these challenges, workers of BMO Commercial Bank’s clients can now leverage DailyPay to stay out of the vicious cycle of debt. Not only can they access, spend, and save their earned pay on their own schedule, but they can also track their earnings in real-time and gain greater financial control in their lives. BMO Commercial Bank’s clients are also seeing a positive impact on their business with a reduction in recruiting costs coupled with a more engaged workforce. DailyPay helps lessen financial stress for employees, reducing distraction and allowing them to be more focused and productive at work.

 We’re confident that partnerships with leading organizations like BMO will have the power to move consumers forward financially, offering unparalleled flexibility and access to their pay as they need it. DailyPay’s partnership with BMO is driving tangible results for both employers and employees. The partnership is reimagining the way money moves, from the moment work starts, and changing pay for good.

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