ADP has debuted Wisely Pay, a new digital payment option that employers can offer employees, particularly those without bank accounts.
Wisely Pay provides a variety of ways for employees to receive, spend and manage their money, including peer-to-peer transfers, instant pay and mobile digital wallets from Apple Pay, Samsung Pay and Android Pay. It originates from ADP’s acquisition of Global Cash Card last October.
Digital accounts, such as paycards and mobile wallets, have become increasingly popular, especially among millennials. A recent survey from ADP found that 47% of Gen Z and 31% of millennials said they would turn down a job if they couldn’t choose their payment method. In addition, 47% of millennials and 66% of Gen Z said that they have used a pre-loaded payment card in the past 12 months.
“The world of work is changing and our clients look to us as the market leader in payments, to help them better engage with their entire workforce,” said Doug Politi, president of Compliance Solutions at ADP, in a statement. “Wisely Pay is leading the way people get paid in the future as a true bank alternative, with innovative services like instant pay, savings, digital wallet and other financial management and wellness features that are better aligned with the evolving workforce.”
The Wisely paycard will be available in September. For more information, visit www.adp.com.