Paychex Inc., one of the nation's largest payroll and benefits providers, announced a deal with PayActive to give companies an incentive to provide workers early access to wages amid the COVID-19 pandemic. 

PayActive will offer $250 to Paychex customers that enroll in the pay on demand service, after announcing late last week that it will waive fees for lower-income or hourly employees that use the on demand service. 

"Providing employees immediate access to earned wages is the fundamental mission of PayActive," Safwan Shah, founder and CEO of PayActive said, in a press release. "The American worker is under a great deal of financial stress and the impact of COVID-19 has exacerbated these concerns."

The companies originally announced a deal in September 2019 to offer early access to earned wages up to $500.

Cover image: Paychex and PayActive