Automatic Data Processing Inc
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Information Technology : IT Services | Large Cap Blend
Company profile

Automatic Data Processing, Inc. (ADP) is a global technology company engaged in providing cloud-based human capital management (HCM) solutions that unite HR, payroll, talent, time, tax and benefits administration. Its segments include Employer Services and Professional Employer Organization (PEO). Its Employer Services segment serves clients ranging from single-employee small businesses to large enterprises with tens of thousands of employees around the world, offering a range of technology-based HCM solutions, including its cloud-based platforms, and human resource outsourcing (HRO) solutions (other than PEO) solutions. Its offerings include Payroll Services, Benefits Administration, Talent Management, HR Management, Workforce Management, Compliance Services, Insurance Services and Retirement Services. Its PEO business, called ADP TotalSource, provides clients with employment administration outsourcing solutions. It serves over 990,000 clients in 140 countries and territories.

Price
Delayed
$222.05
Day's Change
1.24 (0.56%)
Bid
--
Ask
--
B/A Size
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Day's High
223.30
Day's Low
218.49
Volume
(Average)

Today's volume of 2,362,991 shares is on pace to be in-line with ADP's 10-day average volume of 2,488,459 shares.

2,362,991

Next Generation of Wisely(R) by ADP Offers Workers Enhanced Digital Financial Wellness Options

7:44 am ET November 17, 2022 (PR Newswire) Print

New Features - Including Earned Wage Access1- Help Workers Better Manage Their Financial Lives and Give Employers a Hiring and Retention Advantage

ADP, a leading global technology company providing human capital management (HCM) solutions, today announced enhancements to its award-winning Wisely(R) by ADP payment platform with advanced capabilities and innovative features like Earned Wage Access (EWA), designed to give employees more control of their finances, and help employers better attract and retain talent.

https://mma.prnewswire.com/media/1949159/Next_Generation_of_Wisely_by_ADP.jpg

The data-driven design of the Wisely platform provides an all-in-one solution for financial wellness

Many workers today do not have a relationship with a bank or prefer not to rely on traditional banks. As the next generation of employees enters the workforce, they bring with them digital-driven preferences - including increasing dependence on mobile money management tools. Wisely by ADP provides workers with a secure, digital account2 that helps them access their money, spend, plan and save with fewer fees and headaches. Their Wisely digital account2 allows them to put all their sources of income in one place -creating a frictionless user experience for employees even when they change jobs. Wisely by ADP is accessible to all workers, whether they are W-2 or 1099. It's a compliant, unified payments solution that enhances efficiency - saving employers time and money.

The addition of the EWA feature, offered in partnership with DailyPay, gives employees access to wages they've earned before payday at no cost3 right from myWisely.com or the free myWisely(R) app4. Earned wage access is becoming a key benefit differentiator. According to ADP research5, 91% of millennial workers and 82% of Generation Z workers said it is important for their employer to offer earned wage access. Over half (57%) of Generation X and baby boomer workers said it is important to them as well.

"The Wisely platform solves problems ADP understands better than anyone else," said Gautam Sukumar, SVP and general manager, Employee Financial Solutions at ADP. "The data-driven design of the Wisely platform provides an all-in-one solution and enhanced user experience that puts financial wellness, money management and spending flexibility into every employee's hands. It's the future of paying, earning, spending and saving."

As employers and employees adapt to shifting economic and labor pressures, approximately 95 percent of employers say employee financial wellnessimpacts their productivity, and more than 90 percent say offering financial wellness tools helps attract and retain talent, according to ADP research5.

In addition to EWA, Wisely by ADP offers:

-- Bill Pay6.Right within the myWisely app, Wisely members can easily snap a photo of their bill, import an image of a paperless bill, or manually enter the billing information and have the payment deducted from their Wisely account.

-- Savings Envelopes7.Wisely helps members save with an auto-save feature and the ability to create savings envelopes right in the myWisely app. In fact, Wisely members have saved more than $1.3B in the past nineteen months.

-- Rewards. With Cash Back Rewards8, members can earn cash back when they shop, travel or dine, with cash back going to the savings envelope in the myWisely app. Or members can get offers up to 10% cash back when purchasing eGift cards8 in the myWisely app.

-- Access to Mobile Wallets. Prior to getting a physical card, Wisely members can add their Wisely account to their favorite digital wallet to enable a seamless and touchless experience when using Wisely.

-- New Brand. In addition to the enhanced feature set, Wisely by ADP has also updated their brand strategy and visual identity to better connect with clients and members. The new, bold brand is reflective of Wisely's innovation and focus on offering employers flexibility for every payment scenario, while empowering employees with digital financial wellness tools.

Wisely by ADP integrates seamlessly with enterprise resource planning (ERP) and payroll systems and uses industry-leading technology to streamline payments, pay statement processes and employee information management, making it easier and more cost effective to make off-cycle, and enable one-time and early payments.

For more information, visit www.adp.com/wiselyor www.myWisely.com.

About ADP (NASDAQ: ADP)

Designing better ways to work through cutting-edge products, premium services and exceptional experiences that enable people to reach their full potential. HR, Talent, Time Management, Benefits and Payroll. Informed by data and designed for people. Learn more at ADP.com.

ADP, the ADP logo, and Always Designing for People, are trademarks of ADP, Inc. All other marks are the property of their respective owners.

Copyright (C) 2022 ADP, Inc. All rights reserved.

1Earned Wage Access powered by DailyPay™, is available to Wisely Pay cardholders through the myWisely app or at mywisely.com once your Wisely card is activated. Additional terms and limits apply. Opt-in is required. This optional offer is not a Fifth Third Bank, Pathward, Mastercard or Visa product or service, nor does Fifth Third Bank, Pathward, Mastercard or Visa endorse this offer.2The Wisely card is a prepaid card. References to a digital account refer to the management and servicing of your prepaid card online digitally or through a mobile app. The Wisely card is not a credit card and does not build credit.3While this feature is available without a fee, certain other transaction fees and costs, terms, and conditions are associated with the use of this card. Please log in to the myWisely app or mywisely.comto see your cardholder agreement and list of all fees for more information.4Standard message and data rates apply.5Source: ADP Earned Wage Access Research, January 2022.6The bill pay feature, powered by Papaya, is available through the myWisely app. Additional terms and limits apply. This optional offer is not a Fifth Third Bank, Pathward, Visa or Mastercard product or service, nor does Fifth Third Bank, Pathward, Visa or Mastercard endorse this offer.7The Amounts transferred to your savings envelope will no longer appear in your available balance. You can transfer money from your savings envelope back to your available balance at any time using the myWisely app or at mywisely.com.8Cash Back rewards on purchases at participating merchants are powered by Cardlytics. Opt-In is required for Cash Back Rewards only. Most Cash Back Rewards will appear in your Wisely Rewards savings envelope within 4 weeks after the transaction has completed. Only Cash Back Rewards for the purchase of eGift cards will appear instantly. eGift Card Cash Back offers, powered by Blackhawk Network, Inc.(R), range from 2% - 12%, depending on the gift card that is purchased. Cash Back amounts will be disclosed before you select a gift card. Please review the Terms and Conditions of each eGift card product before purchase. Funds from all Rewards can be moved from the savings envelope into the available balance on your card. You must log in to myWisely to access the Rewards feature for purchases and eGift cards. These optional offers are not a Fifth Third Bank, Pathward, Visa or Mastercard product or service, nor does Fifth Third Bank, Pathward, Visa or Mastercard endorse this offer.

The Wisely Pay Visa(R) is issued by Fifth Third Bank, N.A., Member FDIC or PathwardTM, N.A., Member FDIC, pursuant to a license from Visa U.S.A. Inc. The Wisely Pay Mastercard(R) is issued by Fifth Third Bank, N.A., Member FDIC or Pathward, N.A., Member FDIC, pursuant to license by Mastercard International Incorporated. ADP is a registered ISO of Fifth Third Bank, N.A, or Pathward, N.A. The Wisely Pay Visa card may be used everywhere Visa debit cards are accepted. Visa and the Visa logo are registered trademarks of Visa International Service Association. The Wisely Pay Mastercard may be used where Debit Mastercard is accepted. Mastercard and the circles design are registered trademarks of Mastercard International Incorporated.

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SOURCE ADP, Inc.

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