By Edlyn Cardoza
- Digital Wallet
- financial literacy
- Financial wellness tools
Paycor HCM, Inc., a provider of human capital management (HCM) software, has unveiled its latest mobile feature, Paycor Wallet. The latest innovation gives employees the ability to access earned wages and payment card information through a fully digital wallet. The mobile wallet will also feature a host of other resources, including financial wellness tools. Paycor has partnered with Payactiv, an earnings access and financial wellness platform, to launch the mobile wallet. The new features will be available to all customers starting in September.
“We are thrilled to partner with Paycor to provide the wallet and a suite of financial empowerment tools for employees. This offering will help Paycor customers retain their workforce and attract new talent,” said Safwan Shah, Founder and CEO of Payactiv.
Paycor Wallet includes the new, exclusive Paycor Visa® card, which will be available to all users of the Paycor mobile app. The mobile app will allow users to receive their payment directly into the mobile wallet while providing them with financial literacy tools. The newly launched wallet makes it easier for employees to use Paycor’s existing OnDemand Pay platform, which provides early access to a portion of earned wages before payday.
“With over 125 million working Americans living paycheck to paycheck, it’s imperative for us to provide a mobile app where customers can instantly access an array of helpful features for financial wellness. This benefits both customers and business leaders,” said Raul Villar Jr., CEO of Paycor. “Fast, easy and even early access to funds will be incredibly beneficial for many of our customers, while giving employees greater access and control within the mobile app continues to help automate processes for business leaders. ‘company.”
Wages accessed through the Paycor Wallet can be transferred to other bank accounts, loaded onto other debit cards, or withdrawn in cash. New Paycor customers will automatically receive the Paycor wallet, while existing customers will start seeing the wallet from September.
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