Payton offers Earned Wage Access (EWA) solutions that allow employees to access their earned wages before payday, enhancing their financial flexibility and security. The platform also provides pre-approved cash advances to small and medium-sized businesses, enabling them to manage unforeseen expenses and support growth without incurring high costs.
Funding
Funding not disclosed
Founders
Product
Problem
Many employees face financial stress due to the timing mismatch between expenses and paychecks, leading to reliance on high-interest loans or overdraft fees. Small and medium-sized businesses often struggle with cash flow, particularly when facing unexpected costs or seeking opportunities for growth.
Solution
Payton provides an Earned Wage Access (EWA) solution that allows employees to access a portion of their earned wages before their regular payday, improving their financial flexibility and reducing reliance on costly alternatives. The platform integrates with existing payroll systems, allowing employers to customize the amount and frequency of early wage access. Payton also offers pre-approved cash advances to small and medium-sized businesses, providing them with accessible capital to manage expenses and invest in growth. The company leverages AI-powered credit checks to provide businesses with faster and fairer access to capital.
Target Audience
Payton targets employers looking to enhance employee financial well-being and improve retention, as well as small and medium-sized businesses seeking flexible and affordable access to capital.
Features
- Integration with existing payroll systems for seamless EWA implementation
- Configurable access limits and frequencies for earned wage access
- AI-powered credit checks for faster cash advance approvals
- Mobile app for employees to easily request and access earned wages
- Transparent fee structure for cash advances, minimizing financial burden