Evolution of Pay

Timeline

  • Nov 15, 2017

    Early History

    • 10,000-6,000 BC: First salary believed to be paid.
    • 700 BC: Ancient commands about timely payment of wages (Deuteronomy 24:15).
    • 610 AD: Al-Baghawi wrote: "Pay the laborer his just wages before the sweat on his brow dries up."
  • Nov 15, 2017

    14th Century

    • Bookkeeping/accounting became essential business practices.
  • Nov 15, 2017

    1950s

    • First computerized payroll system is created.
  • Nov 15, 2017

    2012

  • Nov 15, 2017

    2014

    • First PayActiv customer goes live and employees are delighted.
    • PayActiv announces funding round of $4.3M on June 19th, 2014.
  • Nov 15, 2017

    2014-15

    • PayActiv runs national trials to measure impact on lives of employees.
  • Nov 15, 2017

    2016

    • PayActiv announces $9.2M funding from Softbank Capital on February 16th.
    • Barron’s writes, “PayActiv would increase the velocity of money in our economy."
    • PayActiv awarded Best of FinTech Show at FinovateSpring 2016 on May 13th.
    • PayActiv awarded Top HR Product of 2016 on September 19th.
  • Nov 15, 2017

    2017

    • PayActiv expands to 32 states in the U.S.
    • PayActiv's Timely Access to Earned Wages powers Walmart's financial wellness service
  • Nov 15, 2017

    2018

    • PayActiv expands nationwide in the U.S.
    • Globally in Philippines, Brazil, Australia
    • May 2018 Harvard Kennedy School working paper demonstrates how salary link model of PayActiv Earned Wage Access lowers employee turnover by 19% and employees save on average $30 and avoid a bank overdraft or late payment
    • July 2018 - PayActiv Joins ADP Marketplace to Provide Workers with Timely Access to Earned Wages
    • September 2018 - PayActiv raises $20 million from Generation Partners in a Series B financing round.

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