Last Updated
Overview
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.
Overall Rating
Based on 3 users reviews
3.3
Rating Distribution
Positive
67%
Neutral
0%
Negative
33%
Starting Price
Custom
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
Savings Calculator
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.
Payroll Card
The 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.
Tips And Mileage
Payactiv 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.
Financial Wellness
The 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.
Pros And Cons of Payactiv
Pros
Allows employees to set savings goals and budgets
Simplified attendance and hours tracking
Commitment to social impact and sustainability, as per a Payactiv review
Provides early access to earned wages
Cons
Some Payactiv reviews reported customer support can be improved
Initial setup might require training
Payactiv Reviews
Total 3 reviews
3.3
All reviews are from verified customers
Rating Distribution
5
Stars33%
4
Stars33%
3
Stars0%
2
Stars0%
1
Stars33%
Share your experience
Consumer Goods, 500+ employees
Less than a year
“Useless company”
Pros
Unfortunately, the service does not live up to the initial promises made during the signup process.
Cons
This company has been a complete disappointment from top to bottom. They refuse to manually update hours, even when I offer to provide the necessary information. I've gone an entire week without any resolution.
Rating Distribution
Ease of use
3
Value for money
2
Customer Support
2
Functionality
3
Retail, 500+ employees
More than a year
“Good safety net”
Pros
I appreciate the fact that instead of resorting to borrowing money to get by until the next paycheck, this software simply deducts it directly from my check. It's reassuring to know that it's there as a financial safety net in case unexpected expenses arise.
Cons
It's inconvenient that I have to remember to clock in and out on the app. Sometimes I forget, and then I'm unable to submit my work hours for employer approval. I would expect the employer-sponsored app to automatically update and share employees' time cards with PayActive.
Rating Distribution
Ease of use
8
Value for money
10
Customer Support
8
Functionality
10
Not Specified, 1-10 employees
More than a year
“An easy way to offer early pay to employees”
Pros
PayActiv seamlessly integrates with my Paychex payroll system. It allows early access to earnings for all my staff members, and the setup process was relatively straightforward.
Cons
Administering the software wasn't the most straightforward process. Most user-facing administrative tasks, such as address changes, banking updates, password resets, and incorrect earnings reporting, had to be handled by PayActiv. This resulted in frustration among my staff members, who expected me to assist them.
Rating Distribution
Ease of use
10
Value for money
8
Customer Support
8
Functionality
10
Frequently Asked Questions
Does Payactiv offer an API?
Yes, it has an API available to use.
What languages does Payactiv support?
The software supports the English language only.
What other apps does Payactiv integrate with?
Payactiv software integrates seamlessly with many leading payroll and HCM systems, including UKG, SAP, Paychex, ADP, Workday, and Paycor.
Does Payactiv support mobile devices?
Yes, it supports mobile devices.
What types of pricing plans does Payactiv offer?
The software tailors its pricing packages according to each organization's specific needs, workforce size, industry type and desired features. Request custom Payactiv cost today.
Who are the typical users of Payactiv?
The software is designed for businesses of all sizes across many sectors, including healthcare, manufacturing, hospitality, and retail.
What level of support does Payactiv offer?
Payactiv provides various levels of support to suit different needs, including FAQs, phone support, and email.
Does Payactiv have alternatives?
Payactiv alternatives are BambooHR and Rippling.
Who can benefit from Payactiv?
Payactiv benefits both employers seeking to enhance employee financial well-being and government benefits providers aiming to deliver faster access to benefits.