SAN JOSE – Payactiv, Inc., a Certified B Corp and leading provider of financial empowerment services for workers, has been named a “Best for the World™” B Corp in recognition of its exemplary service in bringing financial security and dignity to millions experiencing financial stress. “Best for the World”: What It Means
Payactiv ranks in the top 5% of thousands of certified B Corporations worldwide for its positive impact on customers and for promoting sustainable business practices.
Each year, B Lab recognizes the top 5% of all B Corps in impact on their community, customers, environment, and governance. This will be the second year in a row that Payactiv has ranked in this category as a B Corp. As both a Public Benefit Corporation and Certified B-Corp supporting more than 1,700 businesses and over 1 million users, Payactiv demonstrates that it is possible and vital for companies to serve a worthwhile purpose while making a profit.
Payactiv works with businesses of all sizes to bring security, dignity, and savings to millions of workers. It created the Earned Wage Access (EWA) category for on-demand pay, and it provides a financial wellness app that anyone can download for free.
“There is one word in the award title, Best for the World, which I really love, and that is ‘for’. It’s not ‘Best of the World.” said Safwan Shah, CEO and co-founder of Payactiv.
“I feel very humbled that we’ve earned this badge of honor two years in a row and have a lot of pride in what we’ve achieved for the American workers so far. It reinforces our mission and unwavering commitment to do more and [to do] better.” added Shah.
Payactiv’s mission has always been to help workers across the country meet their livelihood needs. This latest recognition by B Lab comes shortly after Payactiv announced the elimination of EWA fees, making several of its delivery options completely free. This is part of Payactiv’s ongoing response towards the increasingly challenging economic climate millions of Americans face every day and the rising need to gain better control over their financial health.