So, What in the World is a ZayZoon, and How Will it Help Your Business?
Inflation is higher than it’s been since 1981, and is putting more financial pressure on your employees than ever before. Unfortunately, payday isn’t every day, or is it? Wouldn’t it be great if your employees could have instant access to their earned wages when they need it? What if your employees could have this flexibility without borrowing your money, and creating extra work for you? Introducing ZayZoon.
The One-Stop API (Application Program Interface) Wage Solution
ZayZoon lets employees get up to 50% of their wages per pay cycle, whenever they want. The API, which is like an app, except it is meant to interact autonomously with software instead of people, links with your business’s payroll system. This helps employers to pay their employees whenever they want, at no cost OR risk to the employer (that’s you), and the process is entirely automated.
No Contracts
Intimidating and oppressive contracts can be a real turn-off, and let’s face it, that business model is heading for the door. ZayZoon makes it painless for employees and employers alike with their zero commitment, zero cost system.
Instant Deposit
ZayZoon uses a VISA push to debit system that allows them to instantly deposit into your account right after you request it. This does away with messy, expensive, and wasteful paperwork. Did you know that the average American office worker uses an estimated 10,000 sheets of office paper a year? That’s a lot of paper of both the white and green variety.
With ZayZoon, there are no forms to fill out, no proof of wages to give. Everything is worked out by the API, so that all you have to do is press a few buttons to integrate it into your pre-existing system, and within 30 minutes of talking to a ZayZoon IT rep, your employees can get paid on-demand with a press of a button, through the ZayZoon app.
ZayZoon Absorbs All Risk
It is ZayZoon that gives instant cash advances. If an employee does not pay back what they owe, this does NOT affect you, the employer, at ALL. ZayZoon assumes all risks associated with the instant cash advance. They really mean it when they say they are a no risk, no cost, no commitment service. Welcome to the future.
Wage Cycle Example
If your employee is paid $1,500 biweekly, they can borrow up to $375 a week through ZayZoon. So you as an employer, can offer a vital service to your employees, at no cost, commitment, or risk to you. This makes it easier for you to find, and most importantly (especially today), KEEP talented employees.
That’s nothing to take for granted. A study found that even entry-level employees typically cost a business about 50% of their salary to replace. That doesn’t even account for all the time and heartache that accompanies not just losing them, but hunting for their replacement. You also have to factor in how long it takes for a new hire to get “into the groove” of your company’s culture and workflow, IF they even make it that far.
Employee retention continues to be a vital area of focus for businesses. So, it may come as no surprise that the 2021 Bureau of Labor and Statistics reported businesses experienced a startling 57.3% turnover rate in 2020.
To put this in perspective, say your company had 100 employees that made $40,000 a year. If you lost half of them in 2020, it would cost you approximately a cool $1,000,000 smackeroos to replace them!
$200 Daily Limit
ZayZoon is powerful, but even the greatest titans of industry have limitations. You can only withdraw a maximum of $200 each day, up to 50% of your wage for the pay period. This limit allows ZayZoon to offer their service at a very low fixed rate to the borrower, and at no cost to the employer. It also helps them mitigate risks so that everyone wins.
Flat Fee
Unlike predatory payday loan establishments, ZayZoon simply charges a flat $5 fee for money requested. Your employee will never pay more than that over the lifetime of the loan. According to PEW, 12 million Americans take out payday loans each years, spending about $9 billion on fees alone. This causes a lot of problems for employees and businesses.
With ZayZoon, employees that need money now can get their instant cash advance, while not spending a fortune in fees, meaning there is more money in their pocket at the end of the day. That is almost as good as getting a raise. This takes pressure off you, the employer, to pay your employees more. Everyone’s happy.
ZayZoon Card
Even more interesting, if your employees want to get around the $5 fee, you can direct deposit 100% of their wages on to a ZayZoon card. If your employees use this card, then they can get their instant cash advances without the $5 flat fee.
Why does ZayZoon do this? Because they make money from merchant interchange fees. Every time you use any card, debit or credit, a merchant (aka business) must pay a processing fee to a bank to handle this service. ZayZoon will receive a portion of this fee. This is how ZayZoon profits without any additional cost to employee or employer.
Wait… I Thought You Said My Employees Could Get $255 Payday Loans Online Same Day
If your employees are willing to get your cash advance in gift card form, they will actually earn money with ZayZoon, AND get their money faster. ZayZoon will have various booster promotions available on the app with partner associations.
For example, if your employee chose to accept a cash advance in the form of a Wal-Mart gift card, and there is a $55 boost, and they have the ZayZoon card, they can get a $255 cash advance debited to a Wal-Mart gift card at no cost to you, the employer, or the employee.
Even better, when the pay cycle comes, your employees will only owe ZayZoon for the $200. So they have just made $55 in this way, all by using a service that doesn’t cost you anything as a business to provide. You have basically given your employees a raise for free!
1099 Compatible
Believe it or not, instant cash advance is no longer just for W2s. 1099 workers can use ZayZoon to get advances as well. They simply need to submit the appropriate paperwork, such as proof of income to the app. So if you employ contractors, this could be just the pot sweetener they need to do business with you.
How Does ZayZoon Accomplish This?
With Only a Few Clicks of Input From Your Business, ZayZoon Integrates into Existing Payroll Systems
ZayZoon is currently compatible with over 150 different systems! This means if you pick up another payroll system later, or are an employee that switches companies, you will almost certainly still be able to use ZayZoon! The ZayZoon API system can be up and running for an employer in 30 minutes with a single phone call.
ZayZoon Assumes the Risk for These Cash Advances
They can do this because if they do not receive payment for what is owed at the due date, then the algorithm simply automatically bars the recipient from using the service until payments are made, and the account is back up to date. ZayZoon has built-in functionality that calculates how much of an advance your employees can be credited based on things like your historic earnings, pay cycles, and how much is owed.
How Does ZayZoon Offer This Service for Free, Aren’t Businesses Supposed to Make Money?
ZayZoon profits from transaction fees paid by merchants that were already being paid anyway. This means both employer and employee do not assume risk, nor cost for ZayZoon! It is a service everyone benefits from!
ZayZoon Does Not Run on Venture Capitalist Funding
ZayZoon has received its initial funding from various institutional investors, NOT big banks that often bully retail investors, small businesses, and the working class.
Why Does ZayZoon Do What They Do?
Do Away With Predatory Lenders
A recent study found that two-thirds of Americans are living paycheck to paycheck. The payday loan industry is notoriously predatory, with interest rates usually ranging from 15 to 20% in the best of cases. ZayZoon’s flat fee essentially makes these practices obsolete.
Quick Cash Flow Easy
Life is full of twists and turns. Life is hard. ZayZoon makes it easier by letting people get the cash they need instantly. Sometimes a little cash flow is all you need to get things back on track, and you shouldn’t have to sell your kid, or your kidneys to do it.
Overcome Pay Cycle Limitations
Since civilization itself, man has been paid for their labors via cycles, whether it is the 3 months it takes to grow crops, or the week it takes in the best of cases to get paid by your employer. ZayZoon says enough is enough. This is the 21st century, we deserve to have our money whenever we need it. To quote a wise man, “It’s my money, and I NEED it now.”
Help Employers Compete with Gig Economy
Good help is hard to find, and it is getting harder. The gig economy means that many are preferring 1099 work because of the instant, no hassle pay. In fact, a look at aggregated tax forms found there was a 22% increase in 1099-MISC forms submitted to the IRS in the past 15 years, a figure that many believe will continue growing.
If employers like us want to stay competitive, we need a method in which they too can pay their employees anytime, instantly. Even established juggernauts like Wendy’s are offering to pay employees same day in the wake of Coronavirus issues.
Combat Debt Spiraling
Sometimes we need money to get out of a tight spot, but to get that money, we get put in a tighter spot. Part of ZayZoon’s mission is to make debt spiraling a thing of the past so we stop paying old debt with new debt. Everyone deserves financial freedom. ZayZoon offers a simple solution for what was once, a complex problem.
We Are All in This Together
Times are tough, which means we need to band together more than ever. We all need a helping hand sometimes. When we work together, no one has to go without. When the going gets tough, the tough get going. But to survive such harrowing times, we need to do that, hand in hand…
Okay, I’m interested, let’s talk more about my specific needs to see if we are a good fit.
