Payactiv’s vision is simple—bring financial security, dignity, and savings to the millions experiencing financial stress. We believe that building a financial technology business requires more than great technology and amazing design. It requires a profitable yet socially-responsible business model and a deep commitment to improving the lives of our users. As a Public Benefit Corporation and Certified B-Corp, we demonstrate how it’s possible, and vital, to make a profit while serving a worthwhile purpose. Everything we do is to help our members meet their livelihood needs, every day, and reach goals, big and small. We are honored to be awarded and recognized along our journey to bridging the gap to financial wellness for millions of workers living paycheck to paycheck.
Payactiv Livelihood Platform has been recognized as the award winner for Best Innovative or Emerging Tech Solution in the Total Rewards and Employee Wellbeing category of the 2022 HR Tech Awards by the Lighthouse Research & Advisory. Over the years, we’ve partnered with some of the best HR tech, financial and banking services, and merchants to offer the most competitive employee financial wellness benefits all in one place.
Payactiv won the Silver Stevie® Award for our “All-in-One Digital Wallet and Livelihood Platform” in the FinTech Solution Category. With 64% of Americans currently living paycheck to paycheck, Payactiv’s best-in-class solution combines EWA, a digital wallet, cashless transfer, and a discount marketplace to deliver a truly innovative and life-saving one-stop shop for millions around the country.
39% of African-Americans, 29% of Hispanics, and 31% of single mothers lack access to credit alternatives between pay periods. This award for “Best Service with an impact on Diversity, Equity, & Inclusion” recognizes Payactiv’s efforts to close gaps between pay periods and provide dignity to underserved communities disproportionately suffering from discriminatory lending practices and a lack of access to financial services.
Payactiv has long been a shepherd of wellness for employers across the country. Being selected for “Best Wellness Program” is an honor and we’re thrilled to be a part of HR West’s 17-year history of connecting with the expansive HR community in the heart of innovation – the San Francisco Bay Area.
This award came from a long-standing relationship that resulted in a revolutionary white-labeled digital wallet for UKG, the leading global provider of human capital management (HCM), payroll, HR service delivery, and workforce management solutions. Our work with UKG is a perfect example of collaboration that can create forward-thinking solutions. By supplementing our traditional earned wage access offering with a robust financial literacy and planning element, our collaboration with the UKG Wallet can help millions of users alleviate financial stress and better maximize there earnings.
Through our nonprofit ACCESS Foundation, we partnered with the New York City government to provide earnings to NYC taxi drivers who delivered emergency food and medical supplies across the city. More than $27 million was delivered to these drivers – for many it was their only source of income for months. This award strengthens our resolve and reaffirms our mission to serve the needs of the +80 million U.S. workers toiling in lower-wage jobs
This grand prize was awarded for product innovations in financial services that “creatively shape the experience and effectiveness” of the workforce. Those innovations led to Payactiv’s app – designed to elevate the humanity of the low-wage worker, a group often marginalized by traditional banking services.
Presented by Aite-Novarica Group at the Mobile Payments Conference, August 18, 2021. The Payactiv Livelihood app, our response to the pressing needs of millions of Americans, was the winner for Product Design and the overall Digital Wallet Grand Prize winner. This one-stop solution for saving, spending, planning, and budgeting eliminates the need for multiple apps and empowers users to take charge of their financial future in a single, seamless experience.
Out of 4,000 Certified B Corporations worldwide, Payactiv ranks in the top 5% for its positive impact on customers and for promoting sustainable business practices. Payactiv is incredibly proud to be recognized for our impact and will continue leveling the playing field for millions of lower-income hourly workers who struggle with cashflow between paychecks.
Payactiv won two Stevie awards at the 2021 American Business Awards—one for Company of the Year in Financial Services (for providing tools and services that support the financial wellness of 2 million people) and another for Corporate Social Responsibility Program of the Year (for waiving all user fees during Covid’s lockdown months and working with New York City to provide taxicab drivers access to $27 million in earned wages as they delivered essential items.)
This award recognizes products and services that follow the Compass Principles, a set of guidelines to build high-quality financial tools that improve the financial health of underserved consumers. Payactiv was awarded the Consumer Champion Award for championing efficient use of electronic payments and cultivating financial inclusion through educating and empowering consumers.
This award follows up Payactiv’s 2016 selection for Best of Show. As Payactiv’s service becomes more robust, we continue to drive sustainable efforts and bring new ideas to the table. We know there is no economic, social, and environmental sustainability without human sustainability. Human beings are the heart of every company and that’s why our mission is to continually elevate financial wellness with sustainable initiatives at the core of what we do.
Payactiv presented its new “Save by Time” service and was among six companies selected as Best of Show, out of 72 companies demoing at FinovateSpring 2016. This award recognized companies and individuals driving FinTech innovation forward. Four years later, another Finovate award followed.
Human Resource Executive selected Payactiv due to the impact the free-to-employer service provides in increasing employee retention, recruitment and engagement. By providing a free model to Human Resource departments, we empower employers to solve root causes of financial stress for their employees, ultimately creating a happier and less stressed workforce.