Sales Specialist, Payactiv
Mid Market
$50-60k
Office located in Milpitas, CA
Allowing early access to monthly paycheques
Open for applications
Allowing early access to monthly paycheques
201-500 employees
Open for applications
$50-60k
Office located in Milpitas, CA
201-500 employees
Company mission
To bring security, dignity, and savings to people who help create our economy.
Role
Who you are
- 5+ years of experience with technology or solution sales
- Experience selling Human Capital Management solutions and/or working in EWA and payment space highly valued
- Experience closing new businesses between 1K to 10K employees
- An entrepreneurial spirit and a self-starter – will put in the work to accomplish their goals
- Exceptional strategic planning and business development skills; must own and contribute at every stage of the sales lifecycle
- A Bachelor's degree in business or equivalent combination of education and work experience
- Ability to promote complex technology solutions and project manage them
- A high level of demonstrated customer interface along with exceptional written and verbal communication skills
- Strong sales, presentation, negotiation, and organizational skills
- An understanding of financial technology trends and industry challenges in key industries – staffing, hospitality, healthcare, manufacturing, and retail
- Experience with Salesforce as well as various other pipeline management and business development tools
What the job involves
- Create a sales pipeline from outbound activity, tradeshows, and channel partner introductions to their clients, and manage the entire sales process from beginning to end (e.g. from "lead" to "closed won" account)
- Develop, support, and maintain a sales pipeline to support ambitious growth plans for financial technology solutions for employees
- Maintain broad market and competitor knowledge to ensure credibility with prospects
- Travel to customer/prospect locations to help build relationships with customers and account teams up to the C -C-level to present product information, solution propositions, account reviews, and support as needed
- Attend industry tradeshows and thought leadership events
- Actively and successfully showcase, demo, and promote Payactiv’s financial wellness solutions and close net new business
- Work closely to support the activation and account management teams to ensure Client Success
- Build a pipeline that will support your quota and company goals
- Drive Mid-Market sales with target customers across a range of verticals
- Help develop and optimize an efficient and scalable sales process
- Train and develop successful talk tracks and messages to have meaningful conversations with decision-makers on all of Payactiv’s solutions
- Work closely with leadership to develop the overall sales strategy within your territory
Our take
PayActiv technologies enable employees to access their earned wages immediately, eliminating delays and reducing the need for overdrafts or payday loans. This service functions as a cash advance and integrates seamlessly with most payroll providers. Beyond wage advances, the PayActiv app offers various tools for financial management and savings encouragement.
Critics compare the $5 fee for early wage access to high-interest payday loans. However, CEO Safwan Shah highlights that late fees and overdraft fees can reduce monthly wages by about 7% on average. Additionally, companies using PayActiv see a reduction in staff turnover by a third. In a notable move, PayActiv has waived fees for senior care workers.
The system has been successfully implemented by major corporations, including Walmart, Pizza Hut, Subway, and Uber, providing substantial support to their workforce. PayActiv's approach is part of a broader trend where earned wage access (EWA) is becoming a popular employee benefit among large employers such as Amazon and McDonald’s. Studies indicate that EWA programs help attract and retain talent among other benefits so PayActiv's service is likely to be popular and support it's scaling.
Steph
Company Specialist
Insights
Some candidates hear
back within 2 weeks
5% employee growth in 12 months
Company
Funding (last 2 of 6 rounds)
Aug 2020
$100m
SERIES C
Oct 2018
$20m
SERIES B
Total funding: $133.9m
Company benefits
- Fully paid health, dental and vision insurance
- 401K, traditional and Roth
- Tuition Assistance or Tuition Reimbursement
- Monthly Gym Reimbursement
- Paid time off to volunteer
- Paid Family Leave (California)
- Paid Vacations
- Complimentary office lunches
- Opportunity to grow
- Opportunity to work with a great team committed to making a difference
Company HQ
Loma Linda, San Jose, CA
Articles
Leadership
Safwan Shah
(CEO)They started their career at Bioserve Space Technologies, Fourth Wave, and Infonox for 19 years, before working as a TSYS Group Executive and President of Infonox. They co-founded Payactiv in August 2012, while working as an Advisor and Board Member.
Sohail Aslam
(CTO)Having studied at San Jose State University, they worked with Safwan at Infonox before joining Microsoft as a Senior Engineer. They worked at Canfield Scientific before co-founding Stookle in 2008, and Payactiv in 2012.
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