Payactiv is now a licensed earned wage access (EWA) provider in Nevada, the first state to create a unique EWA licensing system and set the gold standard in consumer protection. Following the passage of the legislation creating the license, the Nevada Financial Institutions Division issued its final regulations and licensing requirements in July 2024.
The new license requires EWA providers to uphold strong consumer protections, and Payactiv is already fully compliant with these requirements. No changes are needed for Payactiv’s product, employer partners, or payroll providers. Payactiv looks forward to continuing to partner with employers in Nevada to provide their hard-working employees with responsible alternatives to high-cost debt products like payday loans.
