SOURCE: Activehours

Activehours

July 15, 2015 15:30 ET

Activehours Ending the Status Quo of Delayed Payroll

On-Demand Paycheck Provider Signs Key Partners to Expand App Adoption

PALO ALTO, CA--(Marketwired - Jul 15, 2015) - The No. 1 financial resource workers wish their employers would offer is a flexible payday. This is according to a new survey of more than 300 consumers in the U.S. conducted on behalf of Activehours by Google Consumer Surveys. To combat this issue, Activehours, the company that lets workers access their pay as they earn it, is expanding its efforts to reach even more employees by announcing today partnerships with two new timesheet providers, Deputy and Nimble Schedule.

When paydays and payment dates don't match up, there's an app for that

The survey found that more than half (51 percent) of U.S. consumers are more financially strained during specific times of the month, with half of those (25 percent) stating that the majority of their bills and other expenses hit at the beginning of the month. Almost half (48.5 percent) of respondents also said these cash flow issues impact them at work.

"Bills don't show up on payday," said Activehours founder Ram Palaniappan. "By delaying pay for two weeks after you've worked, the current system is forcing people to overdraw bank accounts and incur costly fees or accept late fees on their bills. With Activehours, we're putting people in control of their own paycheck."

By partnering with Activehours, Deputy and Nimble Schedule will give their users easier access to their pay with no delay, easing employees' financial strain and its associated impact on productivity. 

"Our customers' employees want the ability to access their money as they earn it, so we're excited to give them that opportunity through this partnership," said Peter Swaniker, founder and chief technology officer of Nimble Software Systems.

Activehours has seen continued partnership momentum following the announcement of its first set of integrations in March with TSheets, WebPunchClock, Brink Software and When I Work. In total, these integrations reach more than 2 million hourly workers.

Since its launch in 2014, Activehours has been available through its Android and iOS apps to the over 75 million hourly and on-demand workers in the U.S. After emerging from a pilot period with users from 100 companies, Activehours' user base has grown to include workers from more than 4,000 employers, including several of the country's largest retailers, banks and healthcare organizations.

Data to dwell on

Additional key findings from the survey include:

  • Rent/mortgage payments are the No. 1 contributor to financial anxiety (40 percent), followed by health insurance/medical costs (28 percent).
  • The most common unexpected costs that respondents had to finance in the past year were automobile repair (32 percent) and unforeseen medical bills (30 percent).
  •  48.5 percent of respondents said cash flow issues impact them at work.

About Activehours
Activehours is the new, faster way to get paid. Unlike the traditional two-week pay cycle, Activehours unlocks your pay by giving you the money you've already earned when you need it most -- any time, any day. With Activehours, you choose when to get paid for the hours you've already worked, finally giving you control over your finances. Founded in 2013, Activehours is driving consumer-empowered finance through mobile technology by breaking open more than $1 trillion held up in America's pay cycle. For more information on Activehours or to download the app, please visit www.activehours.com.

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