Financial Wellness White Papers and Articles
Many employees feel that there’s an “unwritten guideline” they have to adhere to when dealing with their company’s executives . Eventually, this hurts workplace performance when employees suffer from personal and/or work-related difficulties in silence. Read full article
Your lower-income employees cannot afford a $1,000-$2500 FinTax. PayActiv is designed to help employers solve this FinTax problem for their employees, with a financial system, that employers can provide as a simple HR benefit. Read full article
The new working class is far more concentrated in the service sectors – be they retail or restaurants, childcare or healthcare. The challenge with this new work lies in its lack of financial security. Operating in highly competitive arenas, employers want loyal, engaged, and productive employees. Employees, at a minimum, seek greater economic stability. Read full article
Companies everywhere are now being quietly – and sometimes, not so quietly – undermined by the financial stress that employees experience every day. That stress is a key factor in employee turnover – an issue that’s having a tremendously negative impact on many businesses. Indeed, it’s a wound that simply won’t heal on its own. Read full article
PayActiv has invented a FinTech solution that eliminates the cost and stress of waiting for the paycheck, giving employees access to a portion of their earned wages, at the time when they need it the most. Download the white paper
The Cost of Waiting for Pay
Waiting two weeks to get paid may not seem very difficult if you have savings, insurance protections, assets or investments that you can use in case of emergencies. But, for 90 million Americans living paycheck to paycheck, this wait for payday is expensive. See a side-by-side comparison with alternative financial services available to employees
For 60 million families living paycheck to paycheck, PayDay loans are just the tip of a titanic financial iceberg. Learn about the crippling costs paid by working class towards between paychecks financing.
"Every week a $100B are earned. I call it bank of the employer, nobody is making money off of it. It is just stuck, it is wasted. We can put a regulator on this oxygen which is being deprived of a millions of people and give the control to that individual." Safwan Shah's talk at Banking Disrupted Conference 2016
Payday loans and short-term installment loans prey on the urgent need of people for small-dollar amounts and charge very high fees and interest to the borrowers. PayActiv has developed a fintech solution, a real alternative to payday loans that helps ordinary employed people avoid these debt-traps of predatory lending and become self-reliant in managing their expenses. Read full article
Why is PayActiv winning?
PayActiv is winning because they are providing a real alternative to employees living on the edge of financial ruin. PayActiv is winning by successfully translating advocacy into a thriving business model within the notion of the “shared economy.” Read full article
Debt Traps: CFPB’s Proposed Rules on Payday Lending
Learn how these new CFPB rules effect those in urgent need to funds between paychecks. What we are facing is a situation where 85% of the borrowers will no longer qualify to get access to small dollar amounts. Read full article