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PayActiv in the News

Media Mentions


Jul 21, 2017
Solving “more month than money” puzzle
PayActiv representatives help set up savings accounts, demonstrating how saving just a few minutes’ worth of wages over time becomes a way to pay debts or family expenses. They also guide users to credit counselors for one-on-one advice.


May 17, 2017
Better fintech alternatives to high-cost credit are already here
If these fintech products were widely available, they could benefit virtually all of the nation’s 10.4 million low-income working families and, indirectly, the 47 million individual members of those families.

AIER
January 11, 2017
Tools to Help Lower-Income Americans Save Money
One way to help address the financial wellness of lower-income Americans is to help steer them away from resources that end up hurting their financial condition in the long run. The company PayActiv offers a market-based workaround to this issue by collaborating with employers to provide an innovative benefit.


Dec 1, 2016
Nazareth Home and Sacred Heart Home showcase workplace innovation
"I was thrilled to see this program (PayActiv) and delighted to bring it to the staff. Right now, about one-third of our staff are using the program. It consists of an app that can draw from your account, or it can be used at a special ATM that is accessible to everyone on campus."

StartupSense

Dec 1, 2016
Startup Sense Podcast
"PayActiv helps low income employees, people making $25 and less. We let employees access their earned but unpaid wages when they get into financial emergencies, helping them avoid payday loans, and a variety of other fees and penalties."

Press Releases

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.

hreonline

 

Nov 14, 2016
Help in Advance
"Many workers are reluctant to ask for an advance," says Ulislam. "So by the time they request one, they may be in real trouble. They need the money yesterday, not in four or five days."

payactiv-news-marketplace_npr

July 6, 2016
How to access your hard-earned money before payday
“This is neither a loan nor an advance. It’s already earned. It’s just a technology solution. We change the frequency or velocity of money,” said Safwan Shah, founder and CEO of PayActiv.

Listen to this NPR Marketplace story

payactiv-news-nyt

July 4, 2016
New Payday Options for Making Ends Meet
Goodwill is using technology from PayActiv, a start-up in San Jose, Calif., that uses employers’ wage and hours information to estimate their employees’ earnings. For a fee of $5 per transaction — of which Goodwill pays half as a courtesy to its workers — PayActiv advances the cash. On payday, it recoups the money directly from the employer.

PayActiv’s founder, Safwan Shah, talks with a missionary zeal about the potential impact. “The biggest bank in this country is the bank of the employer, and two to three weeks of salary for most people is stuck there,” he said. “This is a corporate responsibility issue.”

Bloomberg

 

May 25, 2016
With Payday Lending Under Fire, These Services Turn Your Employer Into an ATM
New financial technology lets employees draw on a portion of their salary as they earn it. "Is waiting to get paid something that can create forced savings, or does it cause problems for low-income people? We’ve done studies to prove that what we are doing is actually helping people save more.”

payactiv-news-barrons

May 21, 2016
Two New Employee Benefits Aimed at Millennials
What I found intriguing is that PayActiv would increase the velocity of money in our economy. In Shah’s model, the world’s largest bank resides within corporations, where money that has been earned but not paid out is stored; he estimates that over $100 billion per week is frozen in the U.S. alone.

payactiv-news-mondato

May 23, 2016
Fintech's Leftward Turn?
Silicon Valley's PayActiv promises to be an alternative to "short term, short dollar, predatory lending products" used by 90 million underserved and working poor in the United States.

payactiv-news-fintech

May 23, 2016
The Best of the Bunch from FinovateSpring
PayActive disrupts the destructive cycle of payday loans by giving workers access to wages they have already earned but have not yet been paid. The firm also offers a simple mechanism for savings and very comprehensive end-to-end tech.

payactiv-news-cu-broadcast

May 12, 2016
How PayActiv’s Safwan Shah Looks to Eliminate the Vicious Debt Spiral
"I can find 10 solutions to borrow $1,000, $10,000, $5,000 but I can’t find a single good solution in our entire financial eco-system for someone who needs a $100 or $200."

payactiv-news-bank-innovation

May 12, 2016
Innovation Comes to Employee Benefits via PayActiv, Student Loan Genius
The dissonance between what you have earned and when it is delivered is painful for employees, and built on an antiquated system — the slow and expensive paycheck. PayActiv users can get the money in their accounts in realtime.

ABA Bank Marketing

payactiv-news-workforce

May 3, 2016
Financial Health Is the Next Wellness Frontier
Traditional financial wellness programs that focus mostly on education or retirement planning did nothing to help workers in dire straits, according to hospital Chief Financial Officer Kendall Johnson. So the hospital turned to a unique solution [PayActiv]: allowing employees to take out small advances on their paychecks.

cuna_councils_press

April 4, 2016
Even among Credit Union Employees, Debt Spiral Threatens Financial Wellness
While credit unions, by their very charter, are committed to serving the financial needs of their member communities, a hard reality is that often, the community that is perhaps most important to the health of the credit union itself – its employees – is struggling with achieving financial wellness.

payactiv-news-bai

March 23, 2016
Improving Pay Day Timing
Who among us would have imagined that in 2016, virtually every aspect of our personal and business lives is “on-demand” and in “real-time?” Today, we access what we want, customized to our needs, now. To wait is passé, costly even. Instead, aligning time to our needs brings efficiency, transparency and savings.

November 26, 2015
11 Insights from HR Tech 2015
Because the value of the knowledge worker, the value of our understanding of what drives human productivity, all of that is increasing with better studies and data. All of that knowledge is coming into software and technology.

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November, 2015
Mobile on-demand access to earned wages
PayActiv’s disruptive business model and industry-leading HR technology are the foundation for a powerful financial wellness program that makes a measurable difference in society.

November 12, 2015
New Budgeting Apps Aim to Disrupt Payday Lending
At a time when the industry is moving toward faster payments, a handful of entrepreneurs are looking to narrow the gap between an honest day's work and an honest day's pay.

October 26, 2015
Making Payroll Just In Time
Expert Interview Series - Josh Bland

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September 9, 2015
PayActiv, Employee Aid as an Employee Benefit
They [PayActiv] are addressing a problem that for years, decades really, many of us have assumed there are no solutions for. We have accepted them as “the way things work” and never really thought about what could be different. This is an innovative solution to a problem that we have all just accepted.

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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