Name: Payactiv
Rating: 8 (3 reviews)
Author: Payactiv, Inc.

Help Desk

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Financial Planning and Analysis (FP&A)

SaaS Spend Management

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Applicant Tracking

Corporate Learning Management

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Talent Intelligence

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API Design

Change and Configuration Management

Cloud Storage

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Data Center Backup

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Monolithic Frame-based Disk Arrays

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Website Hosting

Information Technology

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Identity Threat Detection & Response Software

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Apparel

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Healthcare Learning Management

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### On-Demand Payment Solutions
Users generally appreciate PayActiv's ability to provide early access to earned wages. The platform's on-demand payment solutions have been praised for their convenience and ease of use, allowing employees to access their funds quickly and efficiently. While some users have highlighted minor issues such as fees and verification processes, the overall consensus is positive regarding the effectiveness of PayActiv's on-demand payment solutions in helping individuals manage their finances and meet their financial obligations promptly.

### Payroll Advances
Users generally appreciate PayActiv's ability to provide employees with early access to their pay, citing it as a valuable benefit that enhances their financial well-being. The convenience of accessing funds before payday has been highlighted as a key advantage, with employees expressing satisfaction with the ease of use and the cost-effectiveness of the service. While some users initially found the setup process challenging, the overall consensus is positive, with many noting that the availability of payroll advances has contributed to improved employee retention rates.

### Emergency Funds Access
Users generally appreciate the convenience of Payactiv's emergency funds access feature. The ability to access funds in times of last-minute emergencies has been highlighted as a significant benefit by reviewers. Some users have mentioned that this functionality has helped them avoid late fees on bills and provided a buffer between paychecks. Additionally, users have expressed a positive shift in their perception of the various ways they can utilize the emergency funds access feature provided by Payactiv.

### Payroll Integration
User sentiment varies regarding Payactiv's payroll integration capabilities. While some users praise the seamless integration with payroll providers like ADP, others have encountered challenges when trying to integrate with different systems such as Paycor. Issues like data flow discrepancies and occasional bugs during the initial days of a new payroll week have been reported. Despite these challenges, many users appreciate the convenience of early access to earnings and the reduction in paycheck advances and employee loans. Payactiv's ability to provide emergency cash to employees in need, especially during the COVID-19 pandemic, has been highlighted as a significant benefit of its payroll integration feature.

### Payroll Deductions and Fees
User sentiment about PayActiv's payroll deductions and fees abilities varies greatly. Some users appreciate the convenience and low fees associated with accessing earned wages, while others express concerns about delays in deductions posting and potential impacts on bill payments. The mixed feedback suggests that while PayActiv's payroll deductions and fees feature has its benefits, there are also areas that may need improvement to better meet user expectations.

### Cash Access and Management
Users consistently praise PayActiv's efficient cash access and management features. They appreciate the ease of accessing funds quickly and without exorbitant fees. However, some users have encountered challenges with reconciling withdrawals and tracking due amounts. Despite minor issues, the overall consensus is positive, with users highlighting the convenience and peace of mind that PayActiv's cash access and management services provide.

### Employee Benefits
The reviews of PayActiv's employee benefits program showcase a generally positive sentiment among users. Employees appreciate the flexibility and ease of accessing funds when needed, which has helped alleviate financial stress and emergency situations. The program has been instrumental in improving employee retention rates and overall satisfaction within the company. While there are some minor concerns raised about the frequency of using the service and potential budgeting adjustments required, the consensus remains favorable towards the employee benefits offered by PayActiv.

### Financial Wellness
Users' feedback on Payactiv's financial wellness capabilities is generally positive, with many expressing appreciation for the platform's ability to provide emergency cash to employees in need, thereby steering them away from payday lenders and credit card reliance. The integration with payroll processes to automate deductions and the waiver of fees during the COVID pandemic have also been highlighted as beneficial features. Additionally, users have commended the financial counseling and bill pay services offered by Payactiv, emphasizing the support it provides to employees without bank accounts.

### Financial Services for Employees
While some users appreciate the convenience and support provided by Payactiv's financial services for employees, others have raised concerns about potential challenges in setting up new employees and the impact on regular paychecks. The mixed feedback suggests that there are both positive and negative experiences with the service, highlighting the need for further evaluation of its effectiveness in meeting employees' financial needs.

### Employee Retention Tools
Users consistently praise Payactiv's impact on employee retention and satisfaction. The implementation of Payactiv's employee retention tools has led to a noticeable improvement in turnover rates and employee well-being. By providing employees with the ability to access funds before payday, Payactiv has successfully addressed the need to utilize costly payday lending institutions, ultimately enhancing retention rates within organizations. Additionally, the structured rollout approach and dedicated change management support have contributed to the successful integration of these tools across various business units. This strategic implementation has not only improved employee engagement but has also set companies apart from their competitors by prioritizing employee financial security and well-being.

### Recruitment and Onboarding Tools
Users generally agree that Payactiv's Instant Pay feature has significantly boosted recruitment efforts and employee retention. The ability to provide access to earned wages with minimal fees has been highlighted as a key factor in attracting and retaining staff members. The convenience and ease of use of the program, coupled with the support provided by a dedicated account manager, have proven to be valuable assets in addressing employee queries and concerns. This positive feedback underscores the effectiveness of Payactiv's recruitment and onboarding tools in enhancing the overall employee experience.

Based on user feedback, PayActiv has received the following recommendations:

1. Increase Accessibility: Users suggest expanding availability to more companies and industries to maximize benefits.
2. Enhance User Interface: Improve the user interface to make it more intuitive and user-friendly.
3. Offer More Features: Introduce additional features like budgeting tools and financial education resources for a comprehensive solution.

These recommendations focus on expanding accessibility, improving the user interface, and introducing more features to enhance the value of PayActiv as an employee benefit.

Convenience of paycheck deductions: Users appreciate the convenience of deducting money from their paycheck instead of borrowing or taking out a loan. This feature allows them to effectively manage their finances and avoid additional debt.

Quick access to funds: Users highly value being able to access a portion of their pay within minutes. This feature provides them with fast access to funds when needed, offering a sense of financial security.

Seamless integration with existing payroll systems: PayActiv integrates smoothly with popular payroll systems like Paychex or ADP, making it easy for users to set up and use the platform without any hassle or extra effort.

Inconvenient Clock-in Process: Several users have expressed frustration with the need to manually clock in and out on the app, leading to difficulties in submitting work hours for approval by their employers.

Manual Administration Tasks: Users report facing difficulties with user-facing administration tasks such as address changes, banking changes, password resets, and earnings reporting. These tasks have to be handled by PayActiv, causing frustration for both users and their staff members who are unable to receive assistance directly from PayActiv.

Service Functionality Issues: Some users have experienced issues with the service not functioning properly after employees are given their cards. Only a few employees have been able to access their money early, resulting in dissatisfaction among users.

PayActiv has been widely praised for its ability to address the financial needs of employees and provide quick access to funds in tight situations. Users have reported that receiving their wages early through PayActiv has significantly improved their satisfaction and retention rates, as it allows them to avoid falling behind on bills and handle their financial responsibilities more effectively. One of the primary advantages of this software is that it eliminates the need for employees to ask for advances, which not only prevents potential embarrassment but also reduces the reliance on paycheck advances and employee loans. In addition, PayActiv has played a crucial role in improving employees' financial security by reducing garnishments from payday loan places and helping them steer clear of predatory lenders.

Both employers and employees have found PayActiv to be instrumental in recruiting and retaining talent in a competitive job market. By providing employees with a reliable option to access their funds when needed, the software has been successful in preventing individuals from falling behind on bills and necessities. This, in turn, enables employees to pay their bills on time and avoid financial difficulties. Another use case where PayActiv shines is its ability to provide payroll advances for emergency situations and unexpected expenses. By offering this service, the software has not only improved employee attendance but has also reduced their financial stress, resulting in more balanced daily lives.

Furthermore, PayActiv has expanded opportunities for individuals to travel and has served as an additional resource for clients by functioning as a dependable outlet for accessing funds when needed. The product has encountered no major issues and consistently contributes to employee happiness by improving turnover rates and offering valuable financial options. During the COVID-19 pandemic, PayActiv has proved to be an essential partner by providing access to funds for employees facing challenging circumstances, enabling them to avoid credit card interest charges and handle essential expenses effectively. Overall, PayActiv's user experiences highlight its significance in addressing immediate financial needs while promoting stability and well-being among employees.

Payactiv, headquartered in San Jose, offers their eponymous platform to enable employees to get financial relief between paychecks, a service the vendor states is needed by two-thirds of the workforce. They give businesses the tools essential to ease the financial stress of their employees and build a higher performing workforce.

Payactiv

On-Demand Payment

Likelihood to Recommend

Payactiv, Inc.

HR, Payroll & Benefits BP

Payactiv 2021-12-21 12:32:09

WellSky Personal Care

Payactiv 2021-12-21 10:15:43

TrustRadius is a technology and business research firm based in Austin, Texas. The company is known as a review platform for verified B2B technology and software reviews through a proprietary algorithm and human verification.

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Better reporting

No suggestions

Field staff

Customer service

Home

On-Demand Payment Platforms

This is a good way to help our employees to access their funds earlier which eliminates stress on an everyday basis. It allows the employees to know that when they work they can access their money early to pay bills, take care of their kids, etc.

Financial burden relief
Customer Service
Financial assistance

Early access to funds
Financial tools
Online availability to Uber etc

Better retention
Less employees calling out

Approximately 25% of my workforce uses PayActiv during any given pay period. With access to earned wages via PayActiv, my employees no longer have to come to me for a payday advance. Having this access has been a real help to my staff

It is seamless for me and my office staff
In all the time we have used it we have never had a problem or issue
Does not cost me any time or money

I have no suggestions for improvement, it's never been a problem for my office staff and we have never had a complaint from the field staff, which is most of our employees.

Once set-up it is seamless to use
Does not cost me or my office staff any time or money.

Sorry, not something we track, but I believe it has an impact on worker dignity, they don't have to come to me hat in hand ask for an advance.

Payactiv

Overview

What is Payactiv?