{"id":22420,"date":"2021-10-04T12:11:05","date_gmt":"2021-10-04T16:11:05","guid":{"rendered":"https:\/\/www.dailypay.com\/?post_type=ebooks&#038;p=22420"},"modified":"2023-01-03T13:12:54","modified_gmt":"2023-01-03T18:12:54","slug":"whitepaper-understanding-inner-workings-on-demand-pay-technology","status":"publish","type":"post","link":"https:\/\/www.dailypay.com\/resource-center\/ebooks\/whitepaper-understanding-inner-workings-on-demand-pay-technology\/","title":{"rendered":"Understanding the Inner Workings of On-Demand Pay Technology"},"content":{"rendered":"\n<div class=\"wp-block-dailypay-wrap undefined wrap mrgTop-40 mrgBtm-40 padH-40 align-left custom-content__hero\" data-version=\"4b95\">\n<div class=\"wp-block-columns is-layout-flex wp-container-core-columns-is-layout-9d6595d7 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\">\n<figure class=\"wp-block-image size-large\"><img fetchpriority=\"high\" decoding=\"async\" width=\"612\" height=\"792\" src=\"https:\/\/www.dailypay.com\/wp-content\/uploads\/odp-asset-class-primer-featured.jpg\" alt=\"\" class=\"wp-image-22424\" srcset=\"https:\/\/www.dailypay.com\/wp-content\/uploads\/odp-asset-class-primer-featured.jpg 612w, https:\/\/www.dailypay.com\/wp-content\/uploads\/odp-asset-class-primer-featured-386x500.jpg 386w\" sizes=\"(max-width: 612px) 100vw, 612px\" \/><\/figure>\n\n\n\n<p>As on-demand pay technology continues to gain popularity, it may seem overwhelming to try to understand how it all truly works. With a number of different models, each of which functions in a completely different way, it may seem nearly impossible to \u201ccompare apples to apples\u201d and choose the provider that would be the best fit for your company. This white paper breaks down:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Why on-demand pay is such an important benefit for today\u2019s workforce<\/li><li>How various on-demand pay providers work<\/li><li>Various risks to assess when choosing an on-demand pay provider<\/li><\/ul>\n\n\n\n<div style=\"height:50px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link has-background\" href=\"https:\/\/www.dailypay.com\/wp-content\/uploads\/odp-asset-class-primer-edition.pdf\" style=\"background-color:#ff5c14\" target=\"_blank\" rel=\"noreferrer noopener\">DOWNLOAD WHITEPAPER<\/a><\/div>\n<\/div>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n<\/div>\n<\/div>\n<\/div>\n\n\n\n<div class=\"wp-block-dailypay-wrap undefined wrap mrgTop-40 mrgBtm-40 padH-40 align-left custom-content__excerpt\" data-version=\"4b95\">\n<h2 class=\"has-text-color wp-block-heading\" style=\"color:#4780ea\"><strong><strong>On-Demand Pay Assets Primer<\/strong><\/strong><\/h2>\n\n\n\n<p>The ODP benefit is one of the first innovations in payroll since direct deposit came about more than 50 years ago. While the payroll industry has been slow to adopt new solutions, market changes have made this benefit an increasingly vital requirement for many businesses. ODP generally refers to payments made by a third-party vendor\/provider to an employee prior to a scheduled payday. The payment amounts are repaid at a future point in time, typically on payday, either by the employer or employee. These payments can be thought of as assets and the third-party vendors\/providers as asset originators.&nbsp;<\/p>\n\n\n\n<p>In the last few years, a myriad of technology firms have emerged in the marketplace to offer on-demand pay. Although they may share a common mission &#8211; to provide early access to pay &#8211; these ODP providers differ drastically. Since each ODP provider offers a unique product to its client, the assets originated by these providers have a different legal, risk and reward profile. In order to distinguish between the assets, it is important to focus on three primary aspects with respect to the way providers originate assets:&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Repayment Source<\/li><li>Worked Hours Validation Process<\/li><li>Fee Structure<\/li><\/ul>\n<\/div>\n","protected":false},"excerpt":{"rendered":"","protected":false},"author":32,"featured_media":22424,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[332],"tags":[618,107,68,615,613,628,36,614,399],"class_list":["post-22420","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ebooks","tag-benefits","tag-employee-benefits","tag-employee-turnover","tag-executive","tag-hr","tag-it","tag-on-demand-pay","tag-operations","tag-pay-experience"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.2 (Yoast SEO v27.2) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Understanding the Inner Workings of On-Demand Pay Technology - DailyPay<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.dailypay.com\/resource-center\/ebooks\/whitepaper-understanding-inner-workings-on-demand-pay-technology\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Understanding the Inner Workings of On-Demand Pay Technology\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.dailypay.com\/resource-center\/ebooks\/whitepaper-understanding-inner-workings-on-demand-pay-technology\/\" \/>\n<meta property=\"og:site_name\" content=\"DailyPay\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/dailypay\" \/>\n<meta property=\"article:author\" content=\"https:\/\/www.facebook.com\/trydailypay\/\" \/>\n<meta property=\"article:published_time\" content=\"2021-10-04T16:11:05+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-01-03T18:12:54+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.dailypay.com\/wp-content\/uploads\/odp-asset-class-primer-featured.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"612\" \/>\n\t<meta property=\"og:image:height\" content=\"792\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"DailyPay\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@dailypay\" \/>\n<meta name=\"twitter:site\" content=\"@dailypay\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"DailyPay\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Understanding the Inner Workings of On-Demand Pay Technology - 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