Payactiv

Payactiv earns interchange fees when users spend on the Payactiv Visa Card, issued by Central Bank of Kansas City. Merchants pay the interchange, not the employee. For employer-provided programs, users who maintain a qualifying direct deposit get fee-free real-time transfers to the Payactiv card; alternative disbursement channels carry stated fees viewable on the firm’s program-pricing page.

It is a fintech platform, not a lender. Earned Wage Access works by providing money already earned against hours worked, deducted directly from the next paycheck with no interest. Payactiv holds state EWA and small-loan licenses for regulatory compliance, but the product does not function as a credit product.

Chairman Todd Boehly (Eldridge Industries) leads a board that includes Kabir Misra, managing partner at RPS Ventures and a director at Alibaba Group, and John Hawkins, managing partner at Generation Partners. David Carlick, a director at Audience Exchange, also sits on the board.

Payactiv is structured as a Public Benefit Corporation and Certified B-Corp, which legally obligates it to consider worker financial health as a core business outcome alongside profitability. This contrasts with typical payroll-advance products that maximize fee income or float without a benefit-corporation mandate.

Yes. Unaffiliated individuals can apply for the Payactiv Visa Card and receive their paycheck up to 2 days early via direct deposit, along with access to in-app savings, prescription discounts, and one-on-one financial counseling.