Business: ZayZoon Hits Cape Girardeau Promoting An App For Those Between Paychecks (11/7/22)


ZayZoon’s traveling bus on Friday, October 28 in downtown Cape Girardeau. ZayZoon recently toured 75 cities to promote the benefits of their “get paid before payday” app.

jeff long

It’s no secret that certain companies are having more trouble attracting and keeping employees these days.

Many employers are offering higher wages, hiring bonuses and flexible hours given the labor shortage.

Getting paid the same day you work, without having to wait for compensation, is quickly becoming a popular way to attract workers.

Americare Senior Living of Sikeston, Missouri, hires for online positions, and among the benefits the company offers prospective employees is “access to daily wages.”

mike unverfert

CPU Inc. vice president of payroll

Mike Unverferth, vice president of payroll for Cape Girardeau-based CPU Inc., helps CPU customers for whom the company performs payroll processing link up with ZayZoon, a “wages-on-demand” fintech platform based in Canada founded in 2014.

“The basic theory is that people can access their already earned pay before payday. Frankly, it’s all the rage in all kinds of industries, but especially in the fast-food business. Usually these are positions low wages and need or want access to their money without waiting a week or two,” said Unverferth, who has been with the CPU for 25 years.

“The truth of the matter is, when people tend to live paycheck to paycheck, they might go to a payday loan office, and those rates are really high, not to mention the bank penalties they incur if someone bounce a check.”

ZayZoon co-founder and president Tate Hackert visited Cape Girardeau on Friday, October 28, as part of a 75-day US bus tour to promote the company’s pay-on-demand service.

“We’re a reactive product; we provide breaking help through our app,” Hackert said, in comments at Codefi Works in Cape Girardeau’s Marquette Tower.

ZayZoon’s Vice President of Growth Shubh Sidhu lays out the current situation for many American workers.

“The numbers are staggering. 10% of employees use payday loans, 13% use employer advances, 78% live check, and Americans paid $34 billion in overdraft and insufficient funds fees in 2017 alone.” … It’s an epidemic. Employees are incurring massive fees, spiraling into debt, and their money going to organizations that profit from these personal financial crises,” Sidhu wrote in an online post.

“This service with ZayZoon costs about $5 per transaction, so they can access the money they’ve earned before payday for $5, similar to the ATM fee,” Unverferth said.

“For people who already use other methods to get funds ahead of time, this is a huge money saver,” he added.

Tate Hackert, Co-Founder and President of ZayZoon, speaks Friday, October 28 with guests at Codefi in the Marquette Tower in downtown Cape Girardeau. ZayZoon’s app helps workers get paid before a company’s regular payday.

jeff long

The method

“CPU helps connect to the ZayZoon app for all of our payroll clients, with employees voluntarily signing up through a mobile app,” Unverferth said. “Once they sign up, they link their personal bank account and can request payment for work they’ve earned before payday. On the flip side of things, the ZayZoon system creates a payroll deduction on the next paycheck pay the employee to pay the cash back For example, if I request $200 on Monday and payday is not until Friday, I will receive the money on Monday, then on my pay stub received at the end of the pay period, it will say as a $205 debit.”

Worst of cases

A worker can request money before payday and then not stay until the end of the pay period.

Unverferth acknowledges the possibility and says that ZayZoon has already set the stage.

“If an employee makes an application and receives money early and quits the next day and their final check is not enough to get the advance back, ZayZoon tries to get the money back from that person,” Unverferth said. “If ZayZoon is unable to recover it, the employer is not obligated to pay and is never liable. There is virtually no risk to the employer. ZayZoon builds potential losses into their business model and is willing to take the risk.”


“A lot of times if you walk into a fast food restaurant, you’ll see a sticker on the door that says, ‘Work today, earn today,’ or words like that. It’s really catching on in a lot of restaurants, honestly,” he said Unverferth, who added that the first step in getting started with the wage-on-demand platform is for the employer to sign up.

The CPU will make it easy to link with ZayZoon and help start a business.

Unverferth said the CPU processes payroll for about 400 nursing homes in nearly 20 states.

“We work with a lot of nursing homes and this service is very, very popular with those employees. The truth is that their use of the app is phenomenal. Being able to get paid early is effective as a recruiting tool on their job boards.” “, said. he said she.

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