Payactiv empowers employees and employers through its innovative financial wellness platform. With features like earned wage access and a savings calculator, it helps employees better manage finances and pursue goals. While an initial setup period is needed, Payactiv's positive impact on financial wellness can enhance retention and job satisfaction.
Payactiv Specifications
Employee Information Management
Recruitment and Applicant Tracking
Performance Management
Attendance and Time Tracking
What Is Payactiv?
Overview
PayActiv, a cloud-based financial wellness and benefits administration platform, offers employees on-demand access to their earned but unpaid wages. This not only helps alleviate financial stress but also improves overall well-being. PayActiv addresses the financial challenges faced by employees, contributes to cost reductions for businesses, and enhances talent retention. Through the app, immediate expenses can be managed providing a sense of security in times of financial need.
What Is Payactiv Best For?
Payactiv’s commitment to financial wellness sets it apart from traditional payroll services, making it a valuable solution for both individuals and organizations. It is renowned for its earned wage access (EWA) service, which allows employees to access up to 50% of their earned wages at any time before payday. Unlike traditional pay cycles, where employees have to wait until payday, the software ensures that financial emergencies can be addressed promptly. This flexibility and convenience help employees pay bills and avoid overdraft fees, payday loans, and other high-cost debt, providing a sense of ease and freedom.
Payactiv Pricing
Payactiv Integrations
It integrates with the following third-party apps:
How Does Payactiv Work?
Here's how you can navigate the dashboard and make use of the software's features:
- Add your bank account, Payactiv account or Payactiv Visa card information to receive fund transfers
- Review your pay information like hours worked, earnings to date, and the amount available to access
- Set up your savings and spending goals in the app to stay on track
- Transfer some or all of your already earned wages to your bank account or card to cover immediate expenses by tapping ‘Access Earnings’
- Use budgeting, expense tracking, and other financial wellness tools to make informed money decisions
- Repaid funds will be automatically deducted from your next regular paycheck
Who Is Payactiv For?
The software caters to businesses of different sizes from several industries, including:
- Manufacturing
- Retail
- Healthcare
- Hospitality
Is Payactiv Right For You?
PayActiv is an ideal choice for businesses seeking to enhance employee financial wellness while maintaining profitability. The software maintains a robust information security program aligned with PCI/SOC/ISO controls. It safeguards data confidentiality, integrity, and availability.
The software's scalable structure allows businesses to adapt as they grow, accommodating varying workforce sizes and needs. PayActiv has received accolades such as the Gold Stevie Award for Corporate Social Responsibility and the 2022 HR Tech Award for Total Rewards and Employee Wellbeing. Notable clients include Walmart, Pizza Hut, Uber, and others.
Still unsure if Payactiv is right for you? Contact us at (661) 384-7070, and we will help you evaluate your needs and make a well-informed decision.
Payactiv Features
It allows employees to estimate their potential savings bi-weekly. By factoring in upcoming paycheck deductions, employees can set savings goals based on their bills and financial objectives. This tool empowers individuals to make informed decisions about their finances and encourages better savings habits.
See How It WorksThe software empowers employees to receive their pay, tips, mileage, and other payouts seamlessly via the Payactiv Visa Prepaid Card. This efficient solution streamlines payroll processes while providing staff with free access to funds at any time.
See How It WorksPayactiv streamlines the process of tracking and paying out tips, gratuities, and mileage reimbursements to employees. Instead of manual logging and payments, this automated system ensures that employees receive their earnings promptly at the end of each shift. It’s a time-saving solution that enhances efficiency for both staff and employers.
See How It WorksThe financial wellness platform enables employees to access guidance, such as one-on-one counseling, learning resources, and discounted offers through partnerships empowering them to make informed decisions for a secure financial future.
See How It Works
