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PayActiv’s adding membership in the human capital management firm ADP Marketplace to give it more bulk as a payday lending alternative.
Safwan Shah, founder and chief executive of PayActiv, said his company is not in the lending business but in the business of providing consumers with access to the wages for which they have earned but not yet been paid. He added that “what we do is provide timely access to their earned wages. It’s not a loan since it’s been earned. It’s timely because it’s when they need it, when their bills are due.”
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