ZayZoon Selected as a Qualified Vendor by Choice Hotels International for Earned Wage Access and Financial Education
CALGARY, AB, Aug. 6, 2020 /PRNewswire/ -- ZayZoon Inc, a leader in Earned Wage Access, has been selected by Choice Hotels International, Inc., hotel franchisor of 13 well-known brands including Comfort, Sleep Inn, Cambria Hotels and the Ascend Hotel Collection, to participate in its Qualified Vendor Program as a software vendor for its more than 5,900 franchised hotels across the United States.
Through this new relationship, Choice Hotels franchisees will now have the option to use ZayZoon's patent-pending technology to seamlessly administer earned wages to their employees in real-time, a capability enabled by Visa Direct, Visa's real-time push payments platform. This gives workers freedom over their paydays, which can help them to prevent late payments, pay for last-minute necessary expenses and avoid the use of loan-based products. Furthermore, ZayZoon's financial insight tools and education platform ensures employees of Choice Hotels' independently owned and operated properties can pro-actively work on bettering their financial health for the future.
"Today's hourly workforce wants and needs flexible tools to help them better manage their money and have more control over when they receive access to their funds," says Cecilia Frew, Senior Vice President, Visa Direct at Visa. "Visa is proud to be partnering with ZayZoon and its financial institution to help bring secure and seamless solutions to the employees of Choice Hotels franchisees and give them real-time access to their earned wages, especially during this critical time."
Tate Hackert, President of ZayZoon, commented on ZayZoon's existing relationship with Choice stating, "The Choice Hotels brand is quite familiar to ZayZoon as we've partnered with numerous franchisees over the years. Now with ZayZoon being a Qualified Vendor, franchisees can have even more comfort in knowing the right decision is being made by partnering with ZayZoon to improve the productivity, retention and overall financial health of their employees."
Prior to becoming a Qualified Vendor, dozens of Choice Hotels locations already implemented ZayZoon, with many franchisees experiencing more than 30% of their employee base signing up for the service. In general, staff appreciate the benefit of Earned Wage Access because it helps to decrease financial stress and assist in avoiding predatory products that historically might have been used to provide short term cash flow relief.
ZayZoon is on a mission to improve employee health through the use of responsible financial products. We partner and integrate with companies in the US, Canada and Australia to provide employees access to their wages on-demand, financial education and personal finance tools. This is important because workers around the world rely on predatory products such as payday loans and overdraft fees to bridge the paycheck-to-paycheck gap created by pre-determined payroll cycles. ZayZoon's on-demand access to wages gives employees control over their paycheck, reduces financial stress and prevents the debt spiral caused by predatory products.
 Actual fund availability depends on receiving financial institution and region.