We are Peet and Adrienne, co-founders of Cowrie.app - https://cowrie.app. We are building a modern payroll system that allows employers to pay their employees at the end of every day.
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Why can't salaried employees get paid daily?
That's the question we pondered at the beginning of our journey.
Many of us have been in a position where we faced a short-term cash crunch. Furthermore, everyday systems don't align nicely with bi-weekly or monthly pay schedules. Bills and credit cards are often times due mid-month. Emergencies happen. And sometimes employees need disposable income immediately - to buy GME shares for instance. By waiting until the the next payday, employees are essentially loaning money to their employers. It sucks for them to get charged late fees, overdraft fees or God forbid they result to payday loans on money they have already earned that simply hasn't cleared.
The reason employees don't get paid daily in the USA is simply historical. Back in the day when humans crunched numbers with calculators, it was labor intensive to calculate withholdings, various taxes, benefits and send out checks. To save on these costs, employers simply reduced the number of times these calculations occurred. But nowadays, we have more than enough technology to make these calculations daily.
At cowrie, we are building a modernized payroll system that performs direct deposits at the end of every day.
We love this community and we’d welcome your ideas/ experiences/ feedback on what we’re building!