ROSELAND, N.J., May 14, 2018 /PRNewswire/ -- Changes in talent demographics, working arrangements and technology are impacting how employees need and want to be paid. To meet these shifts, paycards and digital accounts are increasingly becoming attractive options, allowing employees to access their pay how and when they want. Additionally, employers now have the opportunity to take an active interest in the financial wellbeing of their workers to help them get the most out of their pay.
ADP® is continuing its innovation momentum by revolutionizing the way people are paid by introducing Wisely Pay by ADP. Wisely Pay is the next step in ADP's constant evolution to put clients and their workers at the forefront of macro trends shaping the employment landscape, including the growing number of freelance individuals.
"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. "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 functionality of digital accounts, including paycards, and ease of access to funds have made them particularly popular among Millennials. According to a recent report commissioned by ADP, almost half of Gen Z (47 percent) and nearly a third of Millennials (31 percent) would turn down a job if they were unable to choose their method of pay. Additionally, this report revealed that 47 percent of Millennials and 66 percent of Gen Z have used a pre-loaded payment card in the last 12 months.
Wisely Pay is the first offering resulting from ADP's acquisition of Global Cash Card and provides the administrative tools and support to enable employers of any size, industry and workforce blend of full-time, part-time and/or freelance workers to enjoy:
The Wisely paycard will first be available to employers who select to offer sponsored accounts for employees in September 2018 in the United States
About ADP (NASDAQ: ADP)
Powerful technology plus a human touch. Companies of all types and sizes around the world rely on ADP cloud software and expert insights to help unlock the potential of their people. HR. Talent. Benefits. Payroll. Compliance. Working together to build a better workforce. For more information, visit ADP.com.
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SOURCE ADP, LLC