Blog › What Employers Can Do

WSJ: A Better Alternative to Payday Loans Using ‘salary link’

By Insights Team on May 14, 2018

A Better Alternative to Payday Loans Using 'salary link'

Harvard Kennedy School working paper, The Power of the Salary Link, validates the PayActiv model.

 

Employer-sponsored financial wellness pioneered by PayActiv is the key: A solution with benefits for employers and employees

"...research also found that such employer-sponsored financial products may improve employee retention, with turnover rates 19% lower among users of PayActiv." according to Todd H. Baker and Snigdha Kumar of Harvard Kennedy School in Wall Street Journal op-ed based on their recent working paper.

 

PayActiv has helped employees avoid over $35M in direct Fin-Tax® costs in 2018

"PayActiv costs the employee $5 in any month the product is used (although employers frequently subsidize all or part of the fee). Meanwhile, the typical overdraft or payday loan costs around $35. And PayActiv is available to all employees regardless of past credit history." - Todd H. Baker and Snigdha Kumar, Harvard Kennedy School

 

Experience the joy of giving financial self-reliance to your employees

Start today!

ask a question or

Check the FAQ

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

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

© 2018 – PayActiv, Inc. All Rights Reserved