Fiserv-PayActiv partnership is an important milestone in the PayActiv journey to provide instant, affordable financial services at scale. PayActiv utilizes Digital Disbursements from Fiserv to enable users to move money in real time to a U.S. checking or savings account via a direct push to their card account. Through Visa Direct users can move money to their bank accounts in near real time, usually in minutes.
“With the rise of the gig economy and new ways of working, people increasingly expect to be able to access their pay right away,” said Tom Allanson, president, Electronic Payments, Fiserv. “PayActiv is enabling employers to meet that expectation.”
Timely access to pay addresses the needs of any worker, including gig and hourly workers, who can benefit significantly from the ability to move money when and where it is needed, even at 3 a.m. Whether it be rain or shine, night or day, PayActiv provides employees with instant, stress-free, access to their earned wages.
PayActiv users can transfer funds directly to a bank account or prepaid card, pay unlimited online bills, or pick up cash at a Walmart location. The PayActiv app also includes access to financial counseling, literacy, and a savings tool that encourages long-term financial wellness.
With each successive partnership, PayActiv reduces the crippling impact of time on hourly workers financial wellness and provides them with an umbrella of support.
For us, it’s more than a paycheck — it’s peace of mind.