OnShift Wallet, powered by Payactiv, now offers employees no-cost access to earned wages before payday and new financial wellness tools
Cleveland, OH – October 5, 2022 – OnShift, a leader in human capital management software for post-acute care and senior living, in partnership with Payactiv, the leading earned wage access and financial wellness platform today announced they are waiving standard Earned Wage Access (EWA) fees for users of OnShift’s financial wellness solution, OnShift Wallet. This includes making several EWA delivery options, including ACH, completely free for users of OnShift Wallet when accessing their earned wages between paychecks.
At the onset of the COVID-19 global pandemic in 2020, OnShift and Payactiv had waived EWA fees to help healthcare employees during a period of uncertainty. With this release, EWA becomes even more accessible and stress-free for senior care employees.
“Earned wage access is a crucial benefit for senior care where many employees live paycheck to paycheck,” said Jim Rubadue, Chief Operating Officer, OnShift. “We’ve heard countless stories about how OnShift Wallet is helping caregivers in times of need. In partnership with Payactiv, we are proud to eliminate access fees to further support the senior care workforce.”
In addition to fee removal, the latest release of OnShift Wallet has an enhanced user experience and user benefits, including:
- SmartSave tool to set financial goals and automatically save a portion of earned wages
- Free 1:1 financial counseling & content dedicated to financial literacy
- Peer-to-peer payments feature
- Integration with Uber to book rides using earned wages
- Expanded automatic bill payment services compatible with 75,000+ billers
- Added discount offerings on movie tickets, gas & more
“By partnering with OnShift to provide additional free ways for the senior care workforce to access their earned wages, we’re doubling down on our mission to bring security, dignity, and savings to the millions of workers experiencing financial stress.” said Safwan Shah, Founder and CEO at Payactiv.
OnShift Wallet is free for all OnShift customers and integrates seamlessly with OnShift’s workforce management solutions. So far this year, users of OnShift Wallet have conducted nearly 532,000 transactions resulting in more than $54.7 million in earned wages accessed.1
OnShift Wallet users routinely complete surveys to provide greater insight into their timely access to earned wages.2 So far this year, survey results revealed:
- 91% intend to spend the funds on bills, groceries, rent and unexpected expenses
- 76% avoided paying bank overdraft fees, late payments, payday loans or other fees
- 90% would recommend their workplace to a friend
- 95% would recommend OnShift Wallet to a friend or colleague
About OnShift, Inc.
OnShift’s next-generation human capital management platform fundamentally transforms the relationship between healthcare organizations and their employees. Our innovative approach to recruitment, hiring, workforce management, pay and engagement fosters a culture where people want to work. That’s why thousands of healthcare organizations rely on OnShift’s integrated suite of software and services to dramatically reduce turnover rates, decrease costs and improve the quality and continuity of care. For more information, visit www.onshift.com.
About Payactiv, Inc.
Payactiv, an award-winning certified B-Corp, is the leading provider of Earned Wage Access, offering a suite of financial wellness services designed to empower people to participate in the economy they helped create. Our platform and digital wallet serve 2000+ businesses and level the playing field for millions of workers who struggle with cashflow between paychecks.
Payactiv is also the winner of the “Best Innovative or Emerging Tech Solution” at the 2022 HR Tech Awards, a Silver Stevie® Award for our “All-in-One Digital Wallet and Livelihood Platform”, and “Best Wellness Program” award at the California Excellence HR Awards. Learn more at www.payactiv.com.
1 OnShift users accessed $54,742,787 between January 1, 2022 and September 9, 2022
2 The surveys took place between January 1, 2022 and September 9, 2022. The number of survey responses per question varied between 10,642 and 19,024.
Contacts
Marti Bowman
Chief Marketing Officer
OnShift, Inc.
mbowman@onshift.com
216-920-5038
Maggie Vautrinot
PAN Communications
onshift@pancomm.com
774-218-1509
