New Member Q&A: PayActiv

The Innovative Payments Association is pleased to welcome PayActiv as one of its new members. We spoke with Larry Meyers, the SVP of Public Affairs, about PayActiv's role in the industry and where the industry is going. PayActiv is a prepaid program manager and provider of earned wage access features. Learn more about their business below. 

Larry Meyers

What is your company’s role in the payments industry (program manager, issuer, processor, service provider, etc.)? 

​PayActiv provides holistic financial wellness including employer-sponsored earned wage access (EWA) to users.  PayActiv verifies earned wages, and makes on-demand earned wage disbursement to employees directly to: the Payactiv Prepaid card, any Visa/MC debit card, any bank account through ACH, or users can pick-up EWA in cash from Walmart.  Users can also pay bills or make online purchases on Amazon through PayActiv-disbursed EWA.  
 
Payactiv is also a program manager for a General Purpose Reloadable & Payroll Visa prepaid card.

What kinds of payments do you support? 

• Same Day ACH to DDA 
• Next Day ACH to DDA
• Same Day ACH to Prepaid Card 
• Next Day ACH to Prepaid Card 
• Instant Deposit through Visa Direct on any Visa/MC Debit Card 
• Walmart Cash Pick-Up 
• Payactiv Proprietary Kiosk Cash Disbursement 
• PayPal Load 
• Amazon Cash Load 
• Payactiv Visa Prepaid Card 

What kinds of special features do your products and services offer? 

​The Payactiv platform provides several benefits including timely access to earned wages, budgeting and savings tools, pharmacy discounts, and financial counseling.

What kinds of companies are you looking to partner with? 

​In addition to its own enterprise clients, from small businesses to Fortune 100 employers, PayActiv looks to partner with payroll processors and industry leaders to offer EWA to their employer clients. 
 

What do you think the future of payments holds in the next five years?

​Payactiv predicts nationwide acceptance of earned wage access as an employee benefit and vital consumer protection against the challenges of living paycheck-to-paycheck.