EWA Shields Workers From Financial Vulnerability
As a leading financial wellness provider, Payactiv annually measures our impact using survey-based data to learn about the outcomes customers experience when they use Earned Wage Access (EWA).
Post-pandemic, inflation has reached a 40-year high and Americans are struggling to manage the basic cost of living
Payactiv is a security blanket and in today’s economy, it’s absolutely needed.
of people say Payactiv has helped them cope with inflationary pressures
of people say not having Payactiv would negatively impact their household
of people say their ability to manage their finances has improved because of Payactiv
[Without Payactiv] I would have to go back to payday loans and borrowing from a friend or a family member.
EWA Cuts Reliance on Payday Loans and Overdrafts
Before Using Payactiv
30%
of customers used
payday loans
33%
used overdrafts to access
money between paychecks.
Upon utilizing Payactiv, those Payday loans and overdraft use plummeted by 70% and 69%, respectively.
[Without Payactiv] I would struggle to eat and commute to work, potentially risking my job.
Food, transportation, and utilities are the most common expenses respondents spend their earned wages on
use Payactiv to buy food
use their earned wages for transportation
apply EWA to utilities
use EWA for household needs
access funds for rent or mortgage
rely on EWA for emergencies
[Payactiv] makes living paycheck to paycheck a little easier if I have early access to my income.
EWA a Critical Benefit to Help Companies Recruit and Compete for Gig Workers
The gig economy has exploded worldwide with an increasing number of individuals opting for flexible, independent work arrangements. But working Americans in the gig economy face unique financial challenges. Irregular income, no benefits, self-employment taxes, limited access to credit, and a lack of workplace protections all result in financial strain.
of people say Payactiv has helped them cope with inflationary pressures
of users working in the gig economy say their job provides access to wages immediately after their shift
Earned Wage Access (EWA) is a crucial factor in job selection and having early access to earned wages is highly valued.
of people surveyed rate earned wage access as an “extremely important” benefit for employers to offer
of users report improved satisfaction with their employer because of Payactiv
I think every employer should offer this service to their employees. Especially if you’re the only person in your family bringing in money, this service is a life saver.
Frequently Asked Questions
What outcomes do employers see with Payactiv?
Employers using Payactiv report measurable improvements in retention, attendance, and engagement. Across Payactiv customer results, employers see 35% lower turnover, 12% fewer absences, and 30% higher engagement compared to their pre-Payactiv baselines.
What is Payactiv’s overall impact for workers?
Payactiv supports more than 2 million workers across over 40,000 businesses and has moved more than $5 billion in wages, helping workers save more than $400 million in predatory fees and penalties.
Research Methodology
Payactiv partnered with 60 Decibels to conduct an online survey of its over 1,000 users. Users were randomly selected, are hourly workers, and work at enterprise and small and medium size businesses.