back Back

DailyPay, PNC Bank and The Clearing House partner to offer real-time access to earned wage

By Pavithra R

June 16, 2021

  • America
  • Dailypay

DailyPay, PNC Bank and The Clearing House partner to offer real-time access to earned wageNew York-based DailyPay, a provider of the on-demand pay benefit, has announced partnering with PNC Bank and The Clearing House to offer real-time payments over the RTP network, creating the ability to fulfill employee payment needs 24/7/365 with high speed and accuracy. 

“We are constantly exploring ways to innovate our industry-leading technology platform and build upon the gold-standard service we provide our client partners and their employees. We are thrilled to join forces with PNC Bank and The Clearing House for this groundbreaking technology that will enhance the pay experience for millions of Americans,” said Ron Munkittrick, senior vice president, External Operations, DailyPay.

The RTP network provides DailyPay with a safe and seamless way to transfer funds to its users’ bank accounts instantly, giving the users the choice and control over their immediate earned income. Along with instant delivery and availability of funds to the recipient, the sender receives confirmation that the funds were delivered. Real-time payments also enables DailyPay users to receive earned wages instantly, without disrupting the employer’s normal payroll administration and process.

“PNC is committed to immediate payments and creating a platform for a digital real-time economy, and we are excited to collaborate with DailyPay and The Clearing House on this effort. Today’s announcement is just one more example of PNC exploring and engaging innovative uses of RTP as the premier payment solution. The versatility of the RTP network enables new business models that provide opportunities for us to help clients differentiate the way they do business,” said Chris Ward, executive vice president and head of digital and innovation for PNC Treasury Management.

As digital commerce has grown, there has been renewed focus on financial inclusion and the challenges facing workers who live paycheck to paycheck. Real-time payments allow workers to receive funds instantly. Through the announcement, DailyPay touts to be the first on-demand pay provider to deliver funds over the RTP network.

“Paying workers on demand has taken on a new level of importance during the ongoing pandemic and helps to address cash flow concerns that many workers face on a weekly basis. DailyPay’s utilization of the RTP network provides a seamless user experience and benefits the worker and the employer,” said Steve Ledford, senior vice president of Product Strategy and Development at The Clearing House.

Previous Article

June 16, 2021

Klarna launches new Comparison Shopping Service across Europe

Read More
Next Article

June 16, 2021

ICICI Bank launches holistic digital banking solutions for corporates

Read More

IBSi Daily News Analysis

digital wallets

March 01, 2024


Banking Sector and regulatory framework: addressing India’s growing demand for secure lockers

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

March 01, 2024

Hecto Financial eases cross-border transactions with new solution

Read More

March 01, 2024

Marqeta & AffiniPay team to launch SMB credit card solution

Read More

March 01, 2024 activates Cartes Bancaires on Tap to Pay on iPhone in France

Read More

Related Reports

Sales League Table Report 2023
Know More
Global Digital Banking Vendor & Landscape Report Q4 2023
Know More
Wealth Management & Private Banking Systems Report Q4 2023
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q4 2023
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
Get your copy now! IBSi Sales League Table 2023