Payactiv

What is Payactiv?

Payactiv is an earned wage access (EWA) and financial wellness platform that lets employees access a portion of wages they have already earned, working alongside an employer's existing payroll system. The vendor states that EWA is not a loan or cash advance and carries no interest.

Key features of Payactiv

• Earned wage access: employees access earned wages with payouts to a bank account, Payactiv Visa card, debit card, Venmo or PayPal, Cash App or bill pay.
• Payroll cards: payroll cards and instant-issue cards.
• Off-cycle and term pay: pay outside the regular cycle.
• Tips and mileage programs: pay out tips and mileage reimbursements.
• Financial wellness: goal-based saving and a discount marketplace.
• Clock-in and out: time capture functionality.

How Payactiv works

The employer enables Payactiv and connects it to its payroll, HCM or time and attendance system. Employees then see how much of their earned pay they can access and choose a payout method. Payactiv settles with the employee and recovers the amount through the employer's regular payroll. Employee access is limited to a portion of wages earned to date.

Who uses Payactiv?

Payactiv serves employers with hourly and frontline workers. The vendor reports 245K+ businesses, 7M+ workers served and $40B+ settled, and shows case studies from Urban Outfitters, Norman Regional Health System, YMCA of Metropolitan Dallas and Reser's Fine Foods.

Payactiv pricing

Payactiv says EWA is offered at no cost to employers. The site mentions fee-free options for employees and links to a separate program pricing page without giving employee fee details here. No free trial is mentioned.

Payactiv integrations

Payactiv connects with payroll, HCM and PEO providers, time and attendance and scheduling platforms, banks and financial institutions, fintechs and workforce platforms. Developers can use its APIs and developer kits. The homepage does not name specific partners.

Payactiv alternatives

ZayZoon is an earned wage access provider popular with smaller employers. Clair is an EWA and banking app for hourly workers. Tapcheck offers EWA with employer-side payroll integrations. Inova Payroll is a payroll provider rather than a pure EWA product. Payactiv differs through its broad payout options and wellness tools.