New York Times Highlights PayActiv

PayActiv was proud to be included in a NY Times article on October 2, 2020. We thank Tara Siegel Bernard for covering the area of earned wage access and asking our co-founder and CEO, Safwan Shah, for a quote. Here are excerpts from the piece:

“Americans have become accustomed to summoning just about anything on demand, from groceries to car rides. Now it’s just as easy to get paid when you want…

And many customers see them as lifelines…

“It wasn’t like a loan to a bank,” said Ms. Ayala-Spain, who sometimes worked 50-hour weeks before the pandemic, loading and unloading baggage, mail and medical equipment from airplanes. “You don’t have to pay interest.”…

The appeal is obvious: For a few dollars or less, users can cover a bill that comes due in the middle of a pay cycle or get cash for an unexpected expense, like a wildfire or hurricane evacuation. By tapping their earned but unpaid income early, they can avoid overdraft fees, late charges or worse — more predatory lenders. And come payday, the advance is repaid from their bank account or directly from their paycheck….

“I cannot change the level of salary, but what I can change is the timing,” said Safwan Shah, founder and chief executive of PayActiv, which added 410 employers as clients from March to August — more than double the additions a year earlier.”

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Access is more than a paycheck.
It's peace of mind.

Access is more than a paycheck. It's peace of mind.

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