Paychex, PayActiv partner on employees' access to earned wages

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In light of the COVID-19 pandemic, PayActiv is offering PayChex clients a cash incentive to give workers immediate access to earned wages. Photo credit: Pixabay/qimono

In light of the COVID-19 pandemic, Paychex, a provider of human resources, payroll, benefits and insurance solutions, and PayActiv, a provider of employer-sponsored earned wage and tip access, have aligned to provide business owners and employees relief.

Through an existing partnership with PayActiv, the Paychex Pay-on-Demand product gives employees access to an amount equal to their net pay via PayActiv's mobile application. Amid the COVID-19 pandemic, PayActiv is offering $250 to Paychex customers who enroll in the Pay-on-Demand service, payable when the first employee leverages the solution. In addition, PayActiv is waiving employee transaction fees.

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"The economic impact of COVID-19 on millions of employees' livelihoods and financial well-being has been significant," Martin Mucci, Paychex’s president/CEO, said in a statement. "At the same time, many employers are facing cash-flow challenges while balancing the needs of their workers. 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."

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"Providing employees immediate access to earned wages is the fundamental mission of PayActiv," Safwan Shah, PayActiv’s co-founder/CEO, said in a statement. "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."

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