DailyPay: "Small Business Owners Use 85% of Sales for Liquidity in Business Operations"

Big Data-Driven Liquidity Support
Development of Proprietary Credit Evaluation System

DailyPay, a sales transaction platform for small business owners, announced on August 20 that, according to a customer survey, small business owners are utilizing up to 85% of their sales for liquidity to support business operations.

According to the survey, small business owners mainly use liquidity services when order volumes surge or when preparing for a new season. Over the past year, DailyPay customers have used liquidity services to access approximately 80-85% of their sales for business operations.

The company stated that 71.2% of survey respondents said DailyPay's liquidity solution helps with business planning, work efficiency, and long-term growth.

DailyPay has provided its services by analyzing about 50 million cases of real-time sales, revenue, delivery, and customer response big data generated during the business process of small business owners to determine the expected settlement amount.

Reflecting the survey results, DailyPay plans to independently develop a credit evaluation system (R-SCB) dedicated to small business owners and self-employed individuals.

To achieve this, the company will link financial application programming interfaces (APIs) to its existing credit evaluation engine and integrate real-time unstructured and non-financial data to build a differentiated database (R-SDB).

The scope of support for small business owners will be expanded to cover all online and offline areas. For this, the company will analyze data from point of sale (POS) devices and value-added network (VAN) companies.

Lee Haewoo, CEO of DailyPay, said, "Liquidity services support the future growth and business stability of small business owners," adding, "We plan to develop a sophisticated evaluation system using real-time data from small business owners."

This content was produced with the assistance of AI translation services.