DailyPay, a financial solution provider for small businesses, has started an advance payout service for restaurant small business owners using Baedal Minjok and Coupang Eats. The service pays sales proceeds twice a day.
DailyPay said on Aug. 27 it will offer the Baedal Minjok and Coupang Eats advance payout service.
Typically, delivery app sales proceeds are settled three business days later. If weekends or holidays fall in between, settlement can take more than seven days.
DailyPay’s advance payout service pays out sales generated during lunch and dinner hours, including on weekends and holidays. Sales proceeds are automatically settled twice a day, at 2 p.m. and 9 p.m.
Lee Hae-woo (이해우), DailyPay’s CEO, said smooth cash flow is important to boost the competitiveness of restaurant small business owners. He said the service was designed so lunch sales can be paid on the same day and used for costs such as ingredients needed for dinner service.
Ji-young Lee
ljy@d-today.co.kr