Financial stress is real, for an employee doesn’t stop at the doorstep. It carries over into workplaces around the country, impacting productivity and even employee retention.
More than 40 percent of Americans don’t have the means to cover an unexpected $400 expense. QRails and Discover Global Network have teamed up to address this reality by making it easier for companies to offer employees access to their wages as they earn them. The company announced a partnership with Discover Global Network, the payments brand of Discover, to offer the AnyDay Discover Card. The solution will feature earned wage access for users and will be available to select Discover merchant partners who wish to offer their employees this solution starting in November 2021.
Help Wanted Everywhere
Earned wage access is an increasingly important component to attracting and retaining employees while supporting employee financial well-being, says QRails. Tech tools can help to increase job satisfaction for a more positive workplace culture, which is highly correlated to retention. Restaurants of all sizes are getting creative with employee benefits as they look to hire and retain employees. A Jimmy John’s franchisee is providing access to on-demand pay to its employees. QSR Pacific Bells is also offering a daily pay benefit.
As part of this solution, QRails will be a certified Discover Global Network Issuer Processor.
QRails is best known for its AnyDay platform, a proprietary payments infrastructure that supports a market-leading, low-cost earned wage access solution.
By opting into the AnyDay Discover Card program, participating Discover Global Network merchant partners can enable their employees to receive earned wage access payments instantly via a physical or virtual Discover Prepaid Card.
Discover Global Network has more than 50 million merchant acceptance locations and 2 million ATM and cash access locations around the world.