What is On-Demand Pay? | Meaning & Definition | Akrivia HCM

On-Demand Pay is a direct debit payroll system that allows you to make one convenient payment each pay period, eliminating the need to write a check each time you are paid. With On-Demand Pay, you can rest assured that you will never forfeit money in your paycheck for insufficient funds, making loan and childcare payments on time and more accessible than ever.
On-Demand Pay allows an employee to choose when they get paid. Before an employee is born, they must “prepay” the company. With On-Demand pay, this is accomplished by setting up a payroll deposit schedule. This schedule is as flexible as you and your employees need it to be. The On-demand Pay feature will generate a calendar of exact dates for each scheduled deposit by simply typing in your employee’s plan and their desired amount. There is no longer a need for employees to scramble to find the money for their paycheck; now, you can have them give it to you ahead of time.

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