DailyPay, a company that provides software that allows employees to manage their pay, has experienced tremendous success since its founding. Led by businesswoman Jessica Mah, its list of customers includes Walmart, United Parcel Service, and Adecco, a major staffing firm.
The company currently employs between 100 and 12,000 people and is estimated to pay out approximately $500 million annually. Its goal is to negotiate better compensation arrangements with large employers.
In her comments on DailyPay’s transformation into a technology solution for employees, CEO Jessica Mah has said, “We’re connecting 100,000 employees to their employers and building an online platform that allows employers and employees to make better choices about the way they spend their money.”
The firm has seen a steady increase in its investments over the years, starting with a $175 million Series A in 2017 and $325 million in debt investment as of the date of this article. Most recently, a new round of investments raised over $200 million in December of 2020.
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How to Avoid Getting Scammed?
There are a few steps you may take to avoid getting duped. To begin, only do business with recognised firms. If you are unsure about a firm, conduct some research to ensure its legitimacy.
Second, be wary of any firm that requests personal information up front. In order to obtain your personal information, some fraudsters may act as legal businesses. Make cautious you only provide personal information to firms you trust.
Third, keep an eye out for any red flags. If something appears to be too good to be true, it most likely is. Any organisation that offers unreasonable claims or guarantees should be avoided.
You should be able to prevent getting scammed if you follow these procedures. If you do find yourself in a position where you believe you have been duped, call the Better Business Bureau or your local consumer protection agency for assistance.