GPM Investments offers employees pay-on-demand
PayActiv program has allowed employees to access more than $1 million in earned wages before payday.
GPM Investments, LLC is now offering leading holistic financial wellness platform PayActiv to its employees, allowing them to access their earned wages on their terms, regardless of whether they have a bank account. The PayActiv program allows employees to access up to 50% of their earned pay for a nominal, flat fee via an easy-to-use website and mobile app.
According to the Financial Health Network (CFSI), financially underserved Americans pay $173 billion each year for alternative financial services. With PayActiv, employees can circumvent these penalties and access their pay as they need it.
“Since the program was implemented, over 10% of our employees have taken advantage of this benefit, accessing over $1 million of their already earned wages without having to wait for the traditional payday,” said Arie Kotler, President and CEO at GPM. “PayActiv supports our associates and helps them to prepare for the unexpected financial expenses in life. We strive to continue to offer GPM team members great programs like PayActiv.”
When associates log into their PayActiv account, they are able to see accessible earned wages, which they can then transfer to a bank, use to pay bills online, load onto a prepaid card, and withdraw in cash. Additionally, employees can take their financial planning to the next level with goal-based budgeting and unlimited free access to knowledgeable financial coaches.
With recent acquisitions, GPM has widened its reach to approximately 1,400 stores.
