US Bank: Taps Payactiv for earned wage access product
- US Bank announced a new solution with Payactiv to bring Earned Wage Access (EWA) to clients
- Employees at organizations that use the prepaid Focus Card for payroll disbursements can access a portion of their earned wages
- The collaboration includes other payment options including an instant deposit into an employee’s checking account via RTP
- The solution will also provide access to other financial wellness services
- One of the first major financial institutions to collaborate with an EWA provider to bring an EWA payroll card solution
- The future of payments is one where companies may soon say goodbye to the traditional, biweekly payroll
