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DailyPay Names Veteran Executive Nelson Chai as CEO
DailyPay, the leading worktech platform providing on-demand pay and financial wellness solutions, announced that Nelson Chai has been appointed Chief Executive Officer.
Chai brings more than three decades of leadership experience in top executive posts at some of the world’s most recognized financial and technology companies including Uber, where, as CFO, he drove financial transformation and led the company’s IPO. He also previously served as CEO of The Warranty Group, President of CIT Group, CFO of Merrill Lynch, and CFO of NYSE, among other executive roles. Chai joined DailyPay earlier this year as Executive Chairman, working closely with the Board and leadership team to refine its growth vision.
“As DailyPay’s strategy has advanced to encompass employee financial wellness, Nelson is the right leader for this next stage of growth. His experience at the leading edge of FinTech, and his knowledge of consumer markets, will foster further expansion and enhance our ability to deliver new offerings and even greater value for employers and employees alike,” said CeCe Morken, newly elected DailyPay Board Chair.
“With mounting demand to evolve employee pay across the global workforce, DailyPay is at the forefront of a growing movement to enable compan ies to provide specific and customized benefits,” said Chai. “Not only is this evolution in pay better meeting employee needs, it’s providing direct benefits to forward-looking employers in the form of more engaged and stable workforces, which translates into a meaningful competitive advantage. I’m pleased to lead DailyPay at a time of tremendous opportunity to drive innovation, accelerate growth, and expand our positive impact on the lives of frontline workers.”
DailyPay is the undisputed market leader in offering On-Demand Pay, known as earned wage access (EWA), to employees of its client partners. These critical benefits have proven to enable frontline workers to better manage their financial wellness, resulting in higher employee engagement and retention.
Chai succeeds Stacy Greiner who, as CEO, helped achieve consistent growth and profitability for DailyPay and will continue to serve as an advisor. “I am extremely proud of the category leadership DailyPay has attained through the positive impact we make on millions of employees and the employers who support them, as we continue to lead the evolution of On-Demand Pay. I wish the entire team the very best,” Greiner said.
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