DayCheck, announced by the company Monday (Sept. 22), is designed to help restaurants tackle the ongoing challenge of employee recruitment and retention.
“DayCheck is about making life easier for operators,” SpotOn CEO Matt Hyman said in a news release.
“Owners get a solution that enhances their cash flow and streamlines operations, while employees gain the flexibility to access their money when they need it. It’s a win-win for restaurants looking to attract and retain staff in today’s competitive labor market.”
According to the release, DayCheck lets operators skip manual calculations, cash handling and delayed payouts. Woven into SpotOn Teamwork, DayCheck automatically calculates tips, and lets managers approve them with one click, rapidly sending payouts to employees.
Managers can approve tips with a click and payouts are sent to employees rapidly. “Unlike other providers, DayCheck does not require the restaurant to prefund the tips in a separate account,” the release said.
“The digital-first process reduces a time-consuming task (and headaches) for operators and streamlines cash flow for the business, all while making tip distribution faster and more transparent for employees,” the release added.
Research by PYMNTS Intelligence and Ingo Payments found that 85% of workers who have received digital, instant payouts said they were satisfied with that choice. The same data showed that 81% of hospitality workers choose instant payments for their convenience, while roughly three-quarters choose instant out of a desire to quickly secure their funds.
Meanwhile, the PYMNTS Intelligence report “Measuring Consumer Satisfaction With Instant Payouts,” found 77% of consumers opt to receive instant payments for income and earnings disbursements from methods like earned wage access (EWA) when possible.
“Companies facing staffing shortages or high turnover see EWA or instant pay as a differentiator. Millennials and younger workers expect this kind of flexibility,” PYMNTS wrote earlier this year.
Payroll advances also appear to be in demand. Some providers allow workers to draw on small amounts of accrued wages in advance (often through apps), sometimes with fees or membership costs, sometimes free.
For example, Würk recently integrated DailyPay’s On-Demand Pay into its payroll/HR platform, offering workers early access to earnings through that system.
“These solutions provide flexibility and speed even where state regulation or federal rulemaking has not fully resolved EWA’s status,” PYMNTS wrote. “Instant payout rails, payroll tools, and employer-based advances reduce friction, letting workers address urgent expenses without waiting for payday or relying on more dangerous credit paths.”
