Everything we do at ZayZoon is focused on the belief that financial empowerment, knowledge and flexibility is a benefit for everyone. All employees should have the opportunity to determine how their earnings impact their lives. Earned wage access (EWA), the product we champion, is key to unlocking all of this financially-freeing potential.
ZayZoon’s EWA enables employees to access a portion of their pay before payday. EWA helps employees who have short-term emergency expenses, such as an unplanned bill. It can also be used to stash away some cash for savings. Or they can do literally whatever they want with that money without needing to wait the usual two week period to receive their pay. They can take what they need ahead of time and get the rest on payday.
We asked 2500 ZayZoon users if access to EWA has improved their overall financial well-being, and 74% responded with a resounding yes, with 47% saying this benefit significantly contributed to lessening their money worries.
In the spirit of flexibility and customization, ZayZoon offers other perks and financial wellness benefits in addition EWA so users can make the most of their money. One of our free options for employees whose employers use ZayZoon is the prepaid VISAⓇ card.
ZayZoon’s EWA offering is free for employers. Connect it with your payroll provider and let your employees decide when to get paid via e-transfer for a $5 fee. But ZayZoon offers other free benefits and perks that employees can use. ZayZoon’s prepaid VISAⓇ card enables employees to access their wages without any fee.
Like all ZayZoon offerings, customers using this benefit must be an employee of an employer with access to ZayZoon.
Follow the steps below to access the ZayZoon prepaid VISAⓇ card:
A digital card will be issued almost immediately. The digital card can be added to Apple Wallet, Google Pay or Samsung Pay. A physical VISAⓇ card will be delivered to a user in 5-10 business days.
ZayZoon offers employees an opportunity to access a portion of their pay before payday to use on whatever they need. Any amount that is leftover on the paycheck will be deposited as normal on a regularly scheduled payday.
Our prepaid VISA card offers users a chance to get their earnings ahead of time without any fees. Use it directly on the goods or services or bills you need to pay as you see fit.
Benefits include:
The benefits employers offer their employees, in general, are changing because people’s needs are changing. Financial wellness is increasingly gaining traction as a valuable employee benefit to offer. Financial wellness can include investment opportunities to financial education to EWA to gas gift cards and perks.
Employees want regular benefits. Paid days off, sick days and healthcare coverage—anything that falls under health and wellness. Financial stress is a big part of what many employees face and what employers have to manage. We surveyed 500 HR professionals and 5000 employees for our annual state of employee financial wellness and found extraordinary stories of how financial stress permeates the workplace. For example, 73% of employee respondents feel stressed about covering necessities like bills, groceries and rent. This carries over to the workplace. HR professionals surveyed told us that this can result in a lack of focus, lowered morale and lessened quality of work.
Financial wellness benefits, such as EWA or a prepaid card, ensure a holistic approach to employee care. And—most important for both employees and employers—not all benefits have to come at a cost.