PayActiv

PayActiv

Provides early access to earned wages

About PayActiv

Simplify's Rating
Why PayActiv is rated
B
Rated C on Competitive Edge
Rated A on Growth Potential
Rated B on Rating Differentiation

Industries

Fintech

Social Impact

Company Size

201-500

Company Stage

Series C

Total Funding

$133.8M

Headquarters

San Jose, California

Founded

2012

Overview

PayActiv provides a financial service that allows workers to access their earned wages before the traditional payday. By using time and attendance data, PayActiv calculates the wages that employees have earned but not yet received. Once the employer or benefits provider sends the funds, they are loaded onto the worker's Payactiv Visa Card, enabling earlier access to their money. This service helps workers avoid high fees associated with payday loans and overdrafts. Unlike many competitors, PayActiv does not charge employers for offering this service, instead generating revenue through transaction fees when workers use their cards. As a public benefit corporation and certified B Corp, PayActiv aims to balance profit with social responsibility, focusing on the well-being of workers and the community.

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Simplify's Take

What believers are saying

  • Integration with Oracle Cloud Marketplace expands PayActiv's reach to millions of users.
  • Visa+ launch enhances user convenience, potentially increasing adoption and satisfaction.
  • Winning the Silver Stevie® Award highlights PayActiv's leadership in financial technology.

What critics are saying

  • Increased competition from fintech startups may dilute PayActiv's market share.
  • Potential regulatory scrutiny could lead to higher compliance costs for PayActiv.
  • Economic downturns may reduce transaction volumes, impacting PayActiv's revenue.

What makes PayActiv unique

  • PayActiv offers early wage access, reducing reliance on payday loans and overdrafts.
  • The company integrates with digital wallets like Venmo and PayPal for seamless wage access.
  • PayActiv is a certified B Corp, emphasizing social responsibility and financial wellness.

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Funding

Total Funding

$133.8M

Above

Industry Average

Funded Over

4 Rounds

Series C funding is usually for startups that are doing well and are looking for more money to fuel major growth, such as acquiring other companies, expanding into global markets, or launching new product lines. Investors typically include larger venture capital firms and private equity.
Series C Funding Comparison
Above Average

Industry standards

$50M
$50M
Medium
$62M
SeatGeek
$100M
Oura
$100M
PayActiv

Benefits

Health Insurance

Dental Insurance

Vision Insurance

401(k) Retirement Plan

401(k) Company Match

Tuition Reimbursement

Gym Membership

Paid Vacation

Paid Family Leave

Growth & Insights and Company News

Headcount

6 month growth

-1%

1 year growth

0%

2 year growth

-3%
PR Newswire
Feb 12th, 2025
Plug And Play Goal Program Highlights 2024 Milestones And Plans For Advancing Global Innovation In 2025

SUNNYVALE, Calif., Feb. 12, 2025 /PRNewswire/ -- Plug and Play GOAL achieved significant milestones in 2024, driving innovation, fostering collaboration, and enhancing its global presence. In the past year, the US Soft Landing program supported 90 startups from over 12 countries, delivering 13 programs in in-person and hybrid formats. Looking ahead to 2025, the focus remains on advancing the entrepreneurial ecosystem and empowering startups worldwide. From its establishment in 2009, the GOAL program has accelerated over 1000 startups from across the globe to connect them to Silicon Valley resources.Last year, Plug and Play worked closely with 16 esteemed collaborators and program sponsors, including the Armenian Ministry of High Tech Industry, City of Hamburg, City of Laval, Daegu Chamber of Commerce and Industry (Daegu CCI), Enterprise Singapore, Hamdi Ulukaya Initiative, Hong Kong Science and Technology Parks Corporation (HKSTP), Innovation Denmark, Korea Environmental Industry Association (KEIA), K Innovation Center (KIC) in Silicon Valley, Korean Ministry of Environment, New Energy and Industrial Technology Development Organization (NEDO), Startup Lithuania, Team of Wakers, The State of Schleswig-Holstein, and Zagreb Innovation Centre (ZICER). These partnerships played a key role in supporting startup growth and fostering innovation."We bring our startups into the Plug and Play ecosystem, which provides immense benefits, such as meeting real American people, experiencing the culture, and understanding how to expand their business in the U.S.," said Alexandre Corriveau, Director of Terro X from Laval

PR Newswire
Aug 27th, 2024
Payactiv Wins Stevie Award For Financial Technology Excellence

SAN JOSE, Calif., Aug. 27, 2024 /PRNewswire/ -- Payactiv, Inc. , the pioneer and leading provider of Earned Wage Access (EWA) and employer-sponsored holistic financial wellness benefits, has won the Silver Stevie® Award in the "Technology Excellence - Financial Technology" category. This prestigious recognition underscores the unwavering commitment to innovation by Payactiv and its dedication to enhance financial security of the American workers through cutting-edge technology."We are thrilled to receive this award, which validates our relentless focus to revolutionize financial technology for the benefit of millions of workers across United States," said Safwan Shah, CEO and co-founder of Payactiv. "This recognition inspires us to further innovate and expand our services, reinforcing our mission to unlock access to liquidity for workers and foster a more equitable society."Stevie judges commended Payactiv for its pioneering role in the financial wellness space, particularly its introduction of EWA in 2012. Beyond EWA, Payactiv has developed a robust financial wellness ecosystem that includes bill payments, saving and budgeting tools, 1:1 financial coaching, and exclusive discounts, all seamlessly integrated with leading HCMs.As a Public Benefit Corporation and Certified B Corporation, Payactiv continues to lead the industry in financial innovation

PR Newswire
Jan 15th, 2024
Payactiv Launches Visa+ For Fast, Timely Access To Earned Wages

Introducing more employee-centric options for accessing earned wage advancesMILPITAS, Calif., April 8, 2025 /PRNewswire/ -- Payactiv, Inc. , the pioneer and leading provider of Earned Wage Access (EWA) and employer-sponsored holistic financial wellness benefits, today announced the launch of Visa+, enabling real-time1 earned wage disbursements to Venmo and PayPal2.With Visa+, Payactiv is expanding how people access their money – without the need to share debit card or bank account information.Just fast, seamless access to wages when it matters most."Financial security is the foundation for meaningful growth, both at work and in life," said Safwan Shah, founder and CEO of Payactiv. "Our integration with Visa+ empowers employees to access their money on their terms, enhancing financial control and freedom."Why It Matters:Flexible, Convenient Access to Pay: Transfer earned wages to one's own Venmo or PayPal account in real-time 1 .Transfer earned wages to one's own Venmo or PayPal account in real-time. Simple and Secure: Without the need to share debit card or bank account information."Our workforce values flexibility and convenience, and with Payactiv's Visa+ integration, our employees now have real-time1 access to their earned wages through familiar platforms like Venmo and PayPal. This empowers them to manage their finances on their terms, which ultimately boosts employee satisfaction and retention," said Steve Boyd, Senior Director HRIS at American Senior Communities.Payactiv remains at the forefront of financial empowerment, providing innovative solutions that remove obstacles to financial growth for both businesses and their people. With Visa+ and five fee-free EWA disbursement options, Payactiv continues its mission to make financial wellness more accessible for all.Visa+: Simplified and Real-time1 Payouts to Digital WalletsVisa+ offers a streamlined method for directing funds disbursements to participating digital wallets in real-time1

PR Newswire
Nov 8th, 2023
Payactiv Now Available On Oracle Cloud Marketplace

Millions of Workers Empowered to Gain Financial Control with Timely Access to Earned WagesSANTA CLARA, Calif., Nov. 8, 2023 /PRNewswire/ -- Payactiv , a leading provider of holistic financial wellness benefits, and a member of Oracle PartnerNetwork (OPN), today announced it is now available on Oracle Cloud Marketplace and can be integrated with Oracle Fusion Cloud Human Capital Management (HCM) .With Payactiv , Oracle Cloud HCM customers will now be able to help their employees manage day-to-day finances, pay bills on time, save and budget, access free 1:1 financial coaching and reach their financial goals.Recent research by 60 Decibels revealed Earned Wage Access (EWA) plays a pivotal role in safeguarding workers from dangerous debt traps, reducing payday loan usage and overdraft incidents by 70% and 69%, respectively. According to the same study, 7 out of 10 Payactiv users reported increased job satisfaction, underscoring its value as an attractive employee benefit."We're thrilled to work directly with Oracle Cloud HCM customers and bring to them our best-in-class holistic financial wellness solutions," said Safwan Shah, CEO and co-founder of Payactiv. "Our availability in Oracle Cloud Marketplace will enable millions of workers to gain timely access to their earned wages and will further bolster Oracle's market-leading HR solution.""Earned Wage Access and financial wellness benefits are powerful employee recruitment and retention tools," said David Hicks, group vice president, Worldwide ISV and Cloud Business Development, Oracle. "With Payactiv and Oracle Cloud HCM, organizations can help improve employee satisfaction and demonstrate their commitment to supporting the financial well-being of their valued workers."Oracle Cloud Marketplace is a centralized repository of enterprise applications offered by Oracle and Oracle partners.About PayactivPayactiv, an award-winning certified B-Corp, is the leading provider of Earned Wage Access, offering a suite of financial wellness services designed to empower people to participate in the economy they helped create. Our platform and digital wallet serve 4,000+ businesses and level the playing field for millions of workers who struggle with cashflow between paychecks.Payactiv is the Gold Stevie® Award winner for the 2023 'Corporate Social Responsibility Program of the Year', winner of the 'Best Innovative or Emerging Tech Solution' at the 2022 HR Tech Awards, a Silver Stevie® Award for our 'All-in-One Digital Wallet and Livelihood Platform', and 'Best Wellness Program' award at the California Excellence HR Awards

Samachar Live
Sep 27th, 2023
EWA Shields Workers From Financial Vulnerability

SAN JOSE, Calif. , Sept. 27, 2023 /PRNewswire/ - Payactiv, the leading provider of employer-integrated holistic financial wellness benefits, has released its 2023 Impact Report.

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