Payactiv
Employer-integrated earned wage access via non-recourse factoring, with B Corp and 70+ HCM partners.
Overview
Payactiv is one of the original US Earned Wage Access providers, founded in 2012, and the only EWA provider with both Certified B Corporation status (since November 2015) and Public Benefit Corporation structure. Payactiv's model is an employer-integrated, non-recourse factoring structure ("FFRWP" — Forward Funded Receivables-Wage Purchase) — not a loan. Payactiv self-funds wage advances and recoups them via standard employer payroll deduction. Employers pay $0, and employees pay $0–$3.49 per disbursement depending on the chosen method. Payactiv received CFPB Compliance Assistance Sandbox approval in December 2020 — terminated at Payactiv's own request in June 2022 to allow fee model flexibility (not as an enforcement action). The CFPB's 2025 Advisory Opinion separately affirmed that employer-integrated EWA is not credit under TILA, effectively re-validating Payactiv's structure. The Payactiv Visa Prepaid and Payroll Cards are issued by Central Bank of Kansas City (FDIC-insured). White-label deployments include UKG Wallet and OnShift Wallet. Notable customers include Walmart (500,000+ associates), American Senior Communities, Meritage Hospitality, Deaconess Health System, and Goodwill. Founded by Safwan Shah (CEO) and Ijaz Anwar (COO) in San Jose, CA. Raised Series C $100M in August 2020 led by Eldridge Industries; total funding approximately $134M, with valuation exceeding $500M at the Series C. The company explored a minority stake sale via Moelis in 2024 but no subsequent round has been confirmed. Payactiv holds ISO 27001, SOC 1 Type II, and SOC 2 Type II certifications, integrates with 70+ HCM/payroll/T&A systems including ADP (Platinum Marketplace Partner), UKG/Kronos, and Paychex, and has a B Impact Score of 103.4 — top 5% globally.
Key features
- Non-recourse factoring EWA (FFRWP)
- B Corp + Public Benefit Corp structure
- Payactiv Visa Prepaid + Payroll Cards
- 70+ HCM/payroll/T&A integrations
- White-label products (UKG Wallet, OnShift Wallet)
- CFPB-validated employer-integrated EWA model
Vertical focus
retail, healthcare, hospitality, staffing, non_profit
Notable customers
Walmart, American Senior Communities, Meritage Hospitality, Deaconess Health System, Goodwill
At a glance
| Category | ewa |
|---|---|
| Model | ["api","white_label","managed_service"] |
| Pricing | ["transaction_fee","custom"] |
| Revenue share | Employees pay $0–$3.49 per disbursement depending on method; employer pays $0; partner economics custom |
| Best company size | ["mid_market","growth","enterprise"] |
| Time to launch | weeks |
| Technical complexity | medium |
| PCI scope | reduced |
| Founded | 2012 |
| Funding stage | series_c |
| Website | https://payactiv.com |
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