Press Releases
October 2, 2019
81% Users Will Stay With Their Employer Because of the PayActiv Benefit
The survey found that over 81% of respondents said that they were more likely to stay in their role because of the PayActiv Benefit. Respondents surveyed include more than 5,000 shift workers across 209 businesses.
September 18, 2019
PayActiv Becomes Public Benefit Corporation
“The move to become a Public Benefit Corporation gives us the platform to put people alongside profits, aligning social goals with economic goals,” said Safwan Shah, the CEO of PayActiv. “By providing affordable financial services to millions of workers, we increase their purchasing power and help them avoid overdrafts and payday loans. We are proud of our impact.”
Jun 26, 2019
“It’s About Time” Documentary Sheds Light on Earned Wage Access
“By ignoring pay timing as a variable, vulnerable workers get exploited and monetized by the financial system,” said Safwan Shah, PayActiv founder and CEO. “It’s About Time is meant to shine a light on the colossal cost of waiting to get paid and how our heroic partner businesses are bringing financial security, dignity and savings to their workforce.”
May 30, 2019
PayActiv Expands Advisory Board With Addition of Dan Quan
Quan was Senior Advisor to the Director at the CFPB until July 2018, and brings years of experience in the consumer financial services industry and more specifically in matters related to compliance and regulations associated within the industry.
Mar 7, 2019
Visa and PayActiv Join Forces to Offer On-Demand Access to Earned Wages
Visa-PayActiv partnership will allow participating employers real-time deposit capabilities of earned funds to their employees through Visa Direct.
Jan 14, 2019
PayActiv Crosses $1 Billion in Processed Funds for Timely Earned Wage Access to the Underserved and Underbanked Workforce
Over 650,000 employees, irrespective of their banking or credit status have fulfilled their small dollar, short term needs without adding additional debt.
Jan 8, 2019
Paying for Uber Just Got Easier for PayActiv Users
PayActiv joins forces with Uber for Business. Thousands of PayActiv users will now be able to enjoy Uber's affordable and convenient transportation services regardless of their access to liquidity, debit or credit card.
Oct 25, 2018
PayActiv Announces Walmart as Destination to Pick Up Cash-Based Earned Wages
This will enable millions of workers across the country the flexibility to access wages for critical needs any time their local Walmart Money Center / Walmart Service Desk is open with no delay in transferring funds and without the need for a bank account.
Oct 10, 2018
PayActiv Raises $20 Million to Expand Financial Wellness Offering for Millions of Financially Stressed Workers
PayActiv, the largest provider of employment-based holistic financial wellness services, has raised $20 million from Generation Partners in a Series B financing round. Generation Partners has joined early round investors Ziegler Link•Age Fund II and affiliate funds of Softbank Capital in helping PayActiv end predatory fees and debt cycle for millions of workers.
July 25, 2018
PayActiv Joins ADP Marketplace to Provide Workers with Timely Access to Earned Wages
PayActiv, a provider of employment-based holistic financial wellness services, has joined the ADP® Marketplace, the HCM industry’s preeminent ecosystem for business applications that can potentially reach over600,000 employers representing approximately 26 million employees, to offer its full suite of employment-centric financial wellness solutions.
Dec 13, 2017
Walmart Offers New Financial Wellness Services for Associates Nationwide
“With on-demand access to earned wages, Walmart associates will be able to save more, avoid the financial traps that reduce their take-home pay, and get a level of stability that few service sector employers provide.” said Safwan Shah, Founder and CEO of PayActiv.
August 30, 2017
Hurricane Harvey Is Another Example of Why Employee Financial Wellness is a Critical Need Today
PayActiv is stepping up for its employer partners to deliver Earned Wage Access to disaster-struck employees.
September 19, 2016
PayActiv's Financial Wellness Solution Awarded HRE's Top Products of 2016
PayActiv’s groundbreaking solutions promote financial wellness to assist the 90 million U.S. workers living paycheck-to-paycheck.
May 13, 2016
PayActiv Awarded Best of Show at FinovateSpring 2016
PayActiv, a provider of turnkey, employer-sponsored financial wellness solutions, was among the six companies selected as Best of Show, out of 72 companies demoing at FinovateSpring 2016.
May 10, 2016
PayActiv to Demo “Save in Units of Time” Financial Wellness Solution at FinovateSpring 2016
PayActiv empowers working people with debt-free access to up to $500 of earned – but as of yet, unpaid – income instantly, promoting financial resiliency.
February 17, 2016
PayActiv Secures $9.2 Million in Financing to Innovate Financial Wellness Efforts That Reduce Financial Stress and Increase Productivity in the Workplace
Following a successful 2015, PayActiv announced that it has secured $9.2 million in financing from investors since the company was seeded by an early stage fund affiliated with SoftBank Capital.