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NPR All Things Considered Features PayActiv Earned Wage Access

By Insights Team on August 20, 2018

NPR Features PayActiv Earned Wage Access

With 40% of Americans unable to pay for a $400 emergency from savings, PayActiv CEO Safwan Shah believes “the problem is really a between-paychecks problem” for many workers. With PayActiv, workers can avoid expensive and predatory payday loans and instead tap into earned wages at little to no cost.

Walmart is one of the largest employers on Earth. With 2.3 million employees around the world and 1.5 million in the United States, it is by far the single largest private employer in the United States. In fact, Walmart has more than four times the next biggest employer. Employing about 1% of all workers in the US, Walmart has a deep understanding of payroll needs and the challenges of the typical American worker.

In a recent story for All Things Considered on National Public Radio, Walmart senior vice president Daniel Eckert told NPR, "Quite candidly, most of America is living paycheck to paycheck and that's not a socioeconomic problem, that's an American problem.” Walmart took action to help its employees solve the problem through a partnership with PayActiv. More than 200,000 Walmart workers use the system to access earned wages early.

Walmart senior vice president Daniel Eckert told NPR, "Quite candidly, most of America is living paycheck to paycheck and that's not a socioeconomic problem, that's an American problem.” Walmart took action to help its employees solve the problem through a partnership with PayActiv. More than 200,000 Walmart workers use the system to access earned wages early.

Social entrepreneurs taking on world problems

With 40% of Americans unable to pay for a $400 emergency from savings, PayActiv CEO Safwan Shah believes “the problem is really a between-paychecks problem” for many workers. With PayActiv, workers can avoid expensive and predatory payday loans and instead tap into earned wages at little to no cost.

PayActiv helps fill the gap by connecting directly with the employer’s payroll system. Users can open up the PayActiv app, tap a few buttons on the screen, and cash is quickly whisked away to a linked checking account or prepaid card. And unlike a payday loan, which borrowers have to pay back, with PayActiv there is no loan. Employees access funds they already earned on prior workdays.

Employees at Lee’s Famous Recipe Chicken in Richmond, Virginia join Walmart workers to get early access to paychecks. Employers like these companies recognize the high level of financial stress workers deal with on a daily basis. With PayActiv, a featured company in an NPR series on “social entrepreneurs taking on world problems,” those workers may enjoy a relief from this daily stressor.

With PayActiv, a featured company in an NPR series on “social entrepreneurs taking on world problems,” those workers may enjoy a relief from this daily stressor.

Alleviating financial stress for the typical American worker

For workers in restaurants, retail stores, warehouses, and call centers around the US, PayActiv offers an excellent solution to workers living paycheck to paycheck. 78% of Americans live paycheck to paycheck, according to a Career Builder survey, which means your company more than likely has many people with this shared strain.

While a large percentage of workers don’t have $400 for an emergency, many low-income workers pay up to $2,000 per year in fees and interest for short-term loans. If they can turn those fees into savings, they will be far better off and can turn a history of financial fragility into a future of financial stability.

Holistic Financial Wellness

Learn how PayActiv measurably reduces employee financial stress and employee turnover.

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

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

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