GPM Allows Employees to Access Their Earned Wages Before Payday
RICHMOND, Va. — GPM Investments LLC now offers financial wellness platform PayActiv to its employees, which allows them to access up to 50 percent of their earned pay for a flat fee through its website and mobile app.
PayActiv offers freedom and flexibility in earned wage access regardless of whether employees have a bank account, according to GPM.
"Since the program was implemented, over 10 percent 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 GPM President and CEO Arie Kotler. "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."
After logging into their PayActiv account, employees are able to see accessible earned wages that they can transfer to a bank, use to pay bills online, load onto a prepaid card and withdraw in cash. They can also make use of goal-based budgeting and unlimited free access to financial coaches.
PayActiv users also qualify for special discounts at local stores and on prescriptions, and have access to services such as Uber, Amazon and financial literacy resources, which can be access through the mobile app.
GPM is the largest company of convenience store chains to roll out the program, with more than 1,000 users enrolling in the service.
Richmond-based GPM Investments' portfolio consists of approximately 1,400 convenience stores. It operates or supplies fuel to stores in Arkansas, Connecticut, Delaware, Florida, Illinois, Indiana, Iowa, Kentucky, Louisiana, Maryland, Michigan, Missouri, Nebraska, New Jersey, North Carolina, Ohio, Oklahoma, Pennsylvania, South Carolina, Tennessee, Texas and Virginia.