Nearly four out of five American households live paycheck to paycheck, so if a family doesn’t have the cash they need to pay for an emergency, they can easily be led to disastrous debt traps of credit cards and even expensive payday loans.
ABC News talks to PayActiv user, Pearl Campos, of Gerawan Farming about how PayActiv helps workers deal with bills and other financial demands without waiting for payday.
Instead of stressing or looking to predatory lenders that charge hundreds of percentage points in APR, employees can get up to 50% of earned wages up to $500 per pay period and many other financial wellness services for just $5. If they need cash now but don’t get paid until Friday, PayActiv can help all workers, even those with no bank account and no credit score get quick access to funds they’ve already earned.
In the pay-periods workers don’t take advantage of PayActiv’s earned wage access service, they still get to use budgeting, saving, and other useful financial tools at no charge.
Gerawan Farming, along with hundreds of businesses that offer PayActiv to their employees, see reduced turnover when their employees are less stressed. There is no cost to the business and employees like Pearl Campos feel empowered in managing their day-to-day expenses.
Learn more about partnering with PayActiv to bring financial wellness services to your employees.
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