Dora Financial, a marketing and innovation Credit Union Service Organization, has launched DoraPay, a new closed-loop payroll payment system designed for small businesses with independent contractors and gig workers.
Small business owners can now manage their 1099 payroll efficiently and provide valuable employer-sponsored benefits to their workforce.
Dora helps employers better serve their workers by simplifying the payroll process and providing access to all that the app has to offer. The bilingual mobile banking app features a free checking account, no hidden fees, no minimum balance, access to over 30,000 surcharge-free ATMs, free bill pay, free personalized financial coaching, and more.
With DoraPay, paper paychecks are a thing of the past. Wages are loaded onto a fee-free Visa debit card and workers gain access to their pay and all of the Dora Everyday Checking account benefits.
“DoraPay is a game-changer for small business owners,” said Kristi Kenworthy, managing director, Dora. “We understand the unique challenges that small business owners face. Prioritizing financial wellness in the workplace will help employers attract and retain top talent. DoraPay provides immense benefits to both the business and the workforce and will help business owners save time and money so they can focus on what they do best – running their businesses.”
One of the key features of DoraPay is that business owners can tailor the system to fit their unique needs, making it easy to manage their payroll process. The system features customizable pay frequency (weekly, daily, piece work, instant payments, etc.) along with traditional reporting capabilities. DoraPay plans to integrate with popular accounting software, such as QuickBooks, allowing users to easily export data for financial reporting purposes.
“DoraPay is a simple yet comprehensive solution that allows small business owners to invest in their workers’ financial well-being and manage payroll with ease,” Kenworthy added. “With its easy API integration, businesses can be up and running in no time. We are excited about DoraPay and looking forward to helping small businesses add financial wellness to their HR benefits package.”