SAN JOSE, Calif., July 28, 2021 /PRNewswire/ -- Payactiv, Inc., a leading provider of financial-empowerment services for wage earners, today welcomes Aimbridge Hospitality and its 35,000 associates to its portfolio of leading corporations providing Earned Wage Access (EWA).
Payactiv's EWA allows hourly employees on-demand access to wages they've already earned. With more than 1,500 U.S. corporations using Payactiv to support employee financial stability, EWA has become a powerhouse benefit. Companies that utilize Payactiv's EWA benefit report significant increases in hiring, retention and employee satisfaction.
"Aimbridge Hospitality's commitment to its hard-working workforce epitomizes the best in corporate America," said Payactiv Chief Customer Officer Sabina Bhatia. "As the hospitality sector rebounds, Payactiv's EWA has become the most vital tool available to support the sector's millions of hourly workers."
"As a leading hospitality employer, we're deeply committed to our total employment experience," said Ann Christenson, EVP-Chief Human Resources Officer. "In this gig economy, adding Payactiv to our suite of benefit offerings for full-time and part-time associates allows us to be even more competitive in attracting and retaining the best employees, while providing pay flexibility and financial wellness our associates are seeking."
- Aimbridge Hospitality, the world's largest third-party hotel operator, will provide Payactiv's Earned Wage Access (EWA) and financial-empowerment tools to its workforce of 35,000 associates in the United States.
- Using the Payactiv app, Aimbridge associates get immediate access to a portion of their already earned but unpaid wages. For low-wage workers struggling to manage finances, the Payactiv app helps avoid costly fees and penalties, potentially saving them hundreds of dollars annually.
- Aimbridge associates will also have free access to Payactiv's full suite of financial-empowerment tools designed to holistically support people's financial wellness. This includes early pay and direct deposit services, spending management tools, exclusive marketplace discounts, integrated bill pay, savings and budgeting tools, and more.
The Big Picture
- Payactiv creates products that empower more people to participate in the economy they helped create. It is a Certified B Corp and Public Benefit Corporation committed to improving the financial stability and livelihood of the paycheck-to-paycheck worker. In 2021 Payactiv won "Best for The World™" for Excellence Beyond Profit, ranking it in the Top 5% of B Corps globally for impact.
- Aimbridge Hospitality offers best-in-class hotel management services for nearly 1,500 properties, including all leading brands (Marriott, Hyatt, Hilton, IHG, Wyndham, Choice, Extended Stay America, Accor and more).
- Payactiv invented Earned Wage Access (EWA), a financial service that enables workers to access on demand their accumulated wages between paydays. It is not a loan. In less than a decade, EWA as a category has become one of the most popular benefits programs in corporate America. It is used by tens of thousands of businesses daily.
- In 2020, U.S workers accessed nearly $9.5 billion of their earned wages, up 200 percent in three years (Aite Group).
Payactiv, a Public Benefit Corporation and Certified B-Corp, is a holistic financial-wellness platform that provides employees on-demand access to earned but unpaid wages. Businesses that partner with Payactiv see significant cost reductions through increased recruitment, engagement and retention. Employees love Payactiv because it eliminates the expensive between-paycheck toll of payday loans, bank overdrafts and late fees. Payactiv offers a suite of financial services that includes savings and budgeting tools, bill payment and financial-health measurement. Payactiv is the winner of 2021 American Business Awards' Company of the Year for Financial Services award, the Innovative Payments Association's Consumer Champion award, a Finovate winner and finalist, and the recipient of numerous best-in-class awards in both FinTech & HRTech.
In 2020, Payactiv released a short film titled, "We Heard You." Learn more at www.payactiv.com.
About Aimbridge Hospitality
Aimbridge Hospitality is a leading, multinational hospitality company offering best-in-class hotel management services across a broad spectrum of franchised branded full service, select service, luxury hotels, destination resorts, convention centers, and lifestyle hotels. Aimbridge's premium portfolio represents approximately 1,500 properties in 49 states and 20 countries, inclusive of pipeline. With the most robust brand diversity in the industry, Aimbridge and its affiliates represent 84 lodging brands, in addition to more than 82 independent boutique/lifestyle hotels in the portfolio. As the world's largest third-party operator, Aimbridge is dedicated to its mission to leverage its scale to add value for owners and opportunities for associates better than any hospitality operator. Aligned with a concentrated focus, agility, and expertise for each vertical, Aimbridge drives market success for hotels and optimizes investment returns for owners. Aimbridge Hospitality's global headquarters is based in Plano, Texas, with additional corporate offices in Atlanta, Calgary, Fargo, Puerto Rico, and Washington, D.C. Evolution Hospitality, Aimbridge's Lifestyle Division, is based in San Clemente, Calif. Aimbridge's International Division, Interstate Hotels & Resorts, has supporting offices across Europe in Amsterdam, Birmingham, Glasgow, and Moscow. The company's division in Mexico, Group Hotelero Prisma, has offices in Monterrey and Mexico City. For more information on Aimbridge Hospitality, please visit www.aimbridgehospitality.com and connect with Aimbridge on LinkedIn.