Your livelihood is our life's work
We create products that empower more people to participate in the economy they helped create.
Before we created Earned Wage Access (EWA) in 2012, workers could only bridge the gap between needing money and getting paid with late and overdraft fees, or expensive payday loans. Now those funds go where they belong—in workers’ pockets and back into our economy.
Dignity is vital
40% of Canadians say that money remains the top source of stress, surpassing health, relationships, and work.1 These are the men and women who often stretch their money between paychecks, experience frequent financial shocks and maintain financial stability through creativity and grit.
Hence, our vision is simple—bring financial security, dignity, and savings to the millions experiencing financial stress. We believe that building a financial technology business requires more than great technology and amazing design. It requires a profitable yet socially-responsible business model and a deep commitment to improving the lives of our users.
Our values help drive us further
Even more important than what we build is how we build it—as a Certified B-Corp. We model how it’s possible, and vital, to make a profit while serving a worthwhile purpose.
Everything we do is to help our members meet their livelihood needs, every day, without worry, and reach goals, big and small.
Innovators with purpose
Payactiv was founded to level the playing field for the millions of lower-income hourly workers being exploited and monetized for their ‘between paychecks’ cashflow timing issues. Rather than dwell over wage stagnation and tax structures, we at Payactiv set out to do what we knew best—solve this real-world problem with imagination and innovation.
Workers at Jersey Precast Construction were the first people in the world who could login to their Payactiv account from their mobile phone and get the money for hours already worked. Not an advance and not a loan. Just their money when they needed it.
Softbank invested $4.3 Million in Payactiv on its mission to end financial stress for people living paycheck to paycheck. Payactiv added bill pay and savings tools for users underserved by banks.
Payactiv processed over $1B in EWA funds, saving $120 Million in fees, overdrafts, and interest for 650,000 users working at businesses across America. A Harvard Kennedy School study based on Payactiv data found that employee turnover reduced by nearly 20% for employers offering Payactiv EWA.
Payactiv released the documentary titled, It’s About Time, to shed light on timing of pay and its correlation with epidemic financial stress being experienced by millions of working Americans. We also partnered with Uber to bring transportation services to those who are underbanked and underserved and with Visa to further promote our goal of financial inclusion.
When COVID-19 arrived, we doubled down on our commitment to help workers get access to their money. We waived all fees for 75 days and together with partners. In August we launched 'We heard You,' a tribute to the humanity of all workers. We won the Finovate Excellence in Sustainability Award and IPA’s Consumer Champion Award.
After an 18-month research and design effort, we launched the new Payactiv App that incorporates the unmet needs of millions of Americans. We also launched Payactiv Connect, a communication and employee engagement platform for deskless employees.
Our Impact
Our technology empowers companies globally to help their employees be less stressed and lead more productive lives.*
$13 Billion+
In Earned Wage Access
2 Million+
Users served
4,800+
Business partners
* Statistics mentioned are based on U.S. service.
Awards
