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Paychex and Payactiv Partner to Aid Businesses and Employees
To provide relief during the COVID-19 (coronavirus) crisis, PayActiv, the leading provider and creator of Earned Wage and tip Access has partnered with Paychex Inc. a leading provider of HR, payroll, benefits, and insurance to provide employees with transaction-free Earned Wage Access as well as a cash-incentive for Paychex clients looking to provide their employees with instant access to earned wages.
“Providing employees immediate access to earned wages is the fundamental mission of PayActiv,” said Safwan Shah, PayActiv co-founder and CEO. “The American worker is under a great deal of financial stress and the impact of COVID-19 has exacerbated these concerns. We are proud to partner with Paychex to extend our industry-leading technology to millions of families served by Paychex and provide a financial incentive to Paychex clients and their employees during this challenging time.”
This announcement makes use of an existing, seamless, partnership and integration between the two companies – PayActiv powers Paychex’s on-demand pay solution (Pay-on-Demand). Paychex employees can instantly access their earned wages through the PayActiv app. However, in light of the COVID-19 crisis, both Paychex and PayActiv recognize the need for employee financial relief. In response, PayActiv is waiving all transaction fees and is offering $250 to Paychex clients who enroll in Pay-on-Demand as soon as the client’s first employee uses the service.
“The economic impact of COVID-19 on millions of employees’ livelihoods and financial well-being has been significant,” said Martin Mucci, Paychex president and CEO. “We’re pleased to stand with PayActiv to offer a solution that gives employees immediate access to earned wages during a time when they may be facing unexpected expenses and fluctuating incomes, as well as providing employers an added benefit to offer to their employees when they need it most.”
Paychex clients can now offer Pay-on-Demand to their employees in just a few clicks payactiv.com/paychex.
Covid-19 PandemicEarned Wage Access (EWA)Employee Financial WellnessPayActiv NewsPayActiv PartnerPost Covid-19 Pandemic Employee Benefits
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