ZayZoon launches its EWA Visa prepaid card programme

Monday 25 April 2022 12:29 CET | News

US-based fintech ZayZoon has announced the launch of its Visa prepaid card in partnership with Interchecks and EML Payments.

With the launch of the ZayZoon’s new offering, employees can sign-up for a Visa prepaid card within the ZayZoon app and receive their earned wages immediately. Once signed up, employees receive a virtual card and can get access to their earned wages without waiting for the traditional fortnight or monthly paycheck. Account balances, transactions, spend alerts, locking/unlocking a card, and other features are available within the ZayZoon iOS, Android, and web app.

89% of employees surveyed by ZayZoon reported a reduction in their financial stress by using the ZayZoon solution to access already earned but unpaid wages. Furthermore, businesses benefit from the hands-off programme, including restaurants using the solution, reporting up to an 80% reduction in employee cash theft.

EML’s officials stated that strategically, they predict a growth opportunity in helping employees gain access to the wages they've earned when they want. The EML prepaid card solution augments ZayZoon's already seamless Wages On-Demand by removing early access costs.

The new prepaid product and digital wallet furthers ZayZoon’s goal of democratising employees' financial wellness across the United States by giving potentially 14 million underbanked workers a low-cost option to access their wages. With ZayZoon, businesses of any size can offer their staff the benefits of Wages On-Demand and financial education in minutes.

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Keywords: Visa, prepaid card, financial inclusion, partnership, Android
Categories: Payments & Commerce
Companies: EML Payments, Interchecks, Visa, ZayZoon
Countries: United States
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Payments & Commerce

EML Payments







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