PayActiv joins ADP as it takes on payday lenders

More from: | PaymentsSource |
0

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.”

While a significant amount of press has been made about providing faster access to payments for Uber and Lyft drivers, as well as workers in

(...)

Read full article » http://www.paymentssource.com/news/payactiv-joins-adp-to-offer-payday-lending-alternative


About | PaymentsSource |

PaymentsSource.com is quickly evolving as the leading news and information resource for payments and financial-service professionals.

With its exclusive focus on the payments industry and a full-time editorial staff, PaymentsSource.com offers timely and comprehensive coverage of the rapidly changing payments business.

»Twitter: @payments_source »Facebook: @PaymentsSource