EWA Provider ZayZoon Joins Fintech Council, American Made Collaboration.

February 6, 2024
1 min read

The American Fintech Council (AFC) has announced that earned wage access (EWA) provider ZayZoon has joined as its newest member. ZayZoon is an EWA provider for small and mid-sized businesses and aims to provide safe, transparent, and affordable financial options for consumers. The AFC and its members use established standards to guide public policy at both the state and federal levels. ZayZoon offers a platform that is free for employers and takes only 30 minutes to implement. It also provides educational resources and tools to help workers break the paycheck-to-paycheck cycle. According to a ZayZoon study, 89% of employees who use ZayZoon report less financial stress, while 74% of customers say ZayZoon has helped them reduce payday loan usage, and 75% say it has helped reduce overdraft fees. EWA enables workers to access wages they have already earned when they need it, providing an alternative to arbitrary pay periods and high-cost predatory options. The AFC has advocated for responsible, affordable, and transparent EWA companies that democratize financial services and disrupt broken legacy systems. Its industry standards emphasize that EWA is not a loan and should not be regulated as such.

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