The CEO and Founder of PayActiv analyzes received wage access and just why it could be therefore great for the individuals residing paycheck to paycheck
Approximately half the US population lives paycheck to paycheck and for the they often run out of money between these paychecks year. So, they turn to pay day loans or overdrafts and frequently spend late fees as well. This costs this population hundreds and on occasion even 1000s of dollars each year. There clearly was a significantly better solution this is certainly just starting to gain traction, it really is called made wage access.
He could be on an objective to simply help this populace obtain access to the funds these have attained.
In this podcast you shall discover:
- The concept that resulted in the founding of PayActiv.
- Exactly how much it costs employees perhaps perhaps not having the ability to access their wages.
- Why received wage access has garnered more attention recently.
- Exactly How PayActiv is continuing to grow in the long run.
- Exactly exactly exactly How their wage that is earned access works.
- The guardrails they set up to make sure their item can be used responsibly.
- Characteristics associated with the user that is typical of.
- The pushback they many often get from companies.
- Exactly How PayActiv makes cash.
- Information on the bill, SB-472, that PayActiv has sponsored in Ca.
- Why they made a decision to turn into a B-Corporation after which a Public pros Corporation.
- The quantity of advances they will certainly do that 12 months.
- Why Safwan chose to compose a written book and work out a movie documentary. (more…)