How ZayZoon’s prepaid VISAⓇ card works

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.

What is ZayZoon’s 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. 

How to use  ZayZoon’s prepaid VISA^Ⓡ card 

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: 

1. Access ZayZoon on the web or mobile app.
2. Create an account in as little as a few minutes.
3. Select to receive paycheck by direct deposit onto a ZayZoon VISA^Ⓡ Prepaid 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.

Benefits of the ZayZoon prepaid VISA^Ⓡ card

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: 

1. Free access to earned wages for employees: Access your earnings whenever you decide to!  
2. One-click direct deposit: Take advantage of our one-click solution to access funds immediately. 
3. It’s a full digital wallet: Incorporate it into your digital wallet and use wherever such digital cards are accepted. 
4. Option for folks without bank accounts: There are still some people without bank accounts for whatever the reason may be. The prepaid card supports those without accounts and makes this benefit accessible via a digital wallet or physical card. 
5. Transition from paychecks to direct deposit: Many employees are still cashing checks, which can cost employers time and labor. The prepaid VISA card is an easy way to help show the benefits of instant access to earned wages and potentially transition to direct deposit. 
   
   

Why do financial wellness benefits matter? 

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.