BJ’s Restaurants Inc. (Nasdaq: BJRI) said it partnered with on-demand pay provider DailyPay, enabling its 22,000 employees to immediately access compensation after completing a shift.
The Huntington Beach-based company, Orange County’s sixth largest restaurant chain by sales, is the first U.S. restaurant brand to implement the pay system, officials said.
“Having the ability to access pay on demand is a game-changer for our team members,” BJ’s Restaurants Chief Accounting Officer and Senior Vice President Jake Guild said in a statement.
DailyPay has an Orange County connection. Newport Beach-based Carrick Capital Management Co., made its largest investment to date last year by investing more than half of the $175 million Series D round in DailyPay, a New York-based firm founded in 2015.
Shares in BJ’s Restaurants were up 2.2% at $25.92 apiece and a $608 million market cap.