June 19, 2019
This new partnership means employees will have peace of mind knowing they can access their wages as they earn them and avoid costly services like banking overdraft and payday loans. Additionally, BenefitMall clients can now promote a benefit that helps reduce the financial stress of their employees, will increase workplace productivity, and helps recruit new hires.
"The need for financial wellness has never been greater for our clients," said Todd Waletzki, president of Payroll Sales and Operations at BenefitMall. "We are thrilled to introduce a new way for employees to access their wages and look forward to continuing to elevate our payroll products and services in the future."
"The new concept of wages on-demand is a perfect fit for our clients and we're delighted to have wonderful partners like BenefitMall revolutionize payday with us," said Tate Hackert, co-founder and president for ZayZoon. "Improving the financial health and well being of our customers is especially important to ZayZoon and this partnership with BenefitMall means hundreds of thousands of employees will now have access to our full suite of financial wellness tools."
Headquartered in Dallas, BenefitMall partners with a network of 20,000 Brokers and CPAs to deliver employee benefits and payroll services to more than 200,000 small and medium-sized businesses. By combining payroll and benefits, BenefitMall empowers Trusted Advisors to develop the best employee programs while maintaining compliance with government regulations and Health Care Reform.
Owned by Management and The Carlyle Group, BenefitMall also operates HealthcareExchange.com, the leading online community for information regarding the Patient Protection and Affordable Care Act. More information is available at www.benefitmall.com
ZayZoon is a financial wellness company that was created to end predatory lending. Pioneers of the On-Demand Pay space, ZayZoon's Wages On-Demand product gives employees access to their earned wages, ahead of regular payroll cycles. This is important because 78% of American workers live paycheck to paycheck, forcing them into difficult situations between banks that earn over $30B in overdraft fees and predatory lenders that charge upwards of 600% interest. In addition to Wages On-Demand, ZayZoon offers a full-service financial wellness platform which includes financial education, financial calculators, and overdraft prediction. Employers offering ZayZoon demonstrate a less financially stressed workforce, increased workplace productivity, and improved recruitment efforts.