SAN JOSE, Calif., Jan. 8, 2019 /PRNewswire/ -- In a new partnership with Uber for Business, PayActiv is proud to announce an innovative method to access Uber service. Rides are now available to the many who were unable to access Uber service due to lack of liquidity and or banking status. PayActiv users can access their already earned wages and directly pay for Uber rides from within the PayActiv platform.
"PayActiv is in the business of freeing employees' hard-earned income. The integration between PayActiv and Uber platforms keeps employees and business progressing with security, dignity, and lots of savings," said Sohail Aslam, Co-founder and CTO of PayActiv.
Millions of underserved and underbanked Americans cannot access the wide range of services that others take for granted. Online shopping, renting a car or taking advantage of the gig economy are inaccessible due to financial exclusion. Thanks to this new partnership, working individuals across the United States can have the security of being able to get an Uber ride if they find themselves stranded due to car trouble. With PayActiv, they can use their earned but unpaid wages to have the car fixed and use Uber service during that time.
Greater access to affordable transportation
Uber X rides are affordable and convenient and can provide a great alternative to needing a personal car. However, as Uber only accepts card payments in some markets, those living a cash-based lifestyle can't always take advantage of the world's most popular ride-hailing service until now.
Workers at companies that offer PayActiv as an employee benefit can now use their earned wages to pay for unlimited rides with Uber for a flat non-recurring per pay period fee which includes access to multiple financial wellness services.
For someone who just got a job or is financially struggling, a car breakdown can mean losing their job because auto repairs are expensive and the time the car is out of service could keep them from getting to work. An unreliable car is a horrible reason to lose a job, but it happens regularly.
"Uber provides mobility to people by powering millions of trips every day. With this integration, PayActiv users living a cash-based life or lacking a credit card will also be able to enjoy the convenience of Uber," said Michael Goodwin, Head of Business Development, Uber.
Improved access to services for cash-based households
The PayActiv partnership with Uber does more than provide access to rides. It helps those living in a cash-based economy take advantage of money-saving services typically limited to those who can make electronic payments.
The leader in Earned Wage Access, PayActiv is a financial technology solution that gives your employees instant access to their earned but unpaid wages so they can plan, use, and save their money while avoiding late fees, overdrafts, and expensive loans. Our invention, Timely Earned Wage Access (EWA) is a key feature of our holistic platform which also includes bill pay, budgeting and savings features, Visa® debit card, prescription discounts, and financial literacy resources. Comprehensive and effective, PayActiv is the gold standard for delivering financial wellness in the workplace. Companies, including Walmart offer PayActiv to hundreds of thousands of employees at no cost to the employer. Visit www.payactiv.com to learn more.