SAN DIEGO, Feb. 3, 2016 /PRNewswire/ -- Zebit, a free employee benefit that helps relieve working Americans from financial stress, announced that is has been named a winner in the Paybefore 10th annual 2016 Pay Awards. The San Diego-based startup was honored in the Rising Star category and recognized for its payment technology innovation that is used within the financial wellness space. Zebit fulfills employer benefits gaps by addressing employees' financial stress with a program that blends financial education and budgeting resources with an interest-free credit option that puts no cost or liability on a company. With the award win, Zebit moves on to the Pay Awards Best-in-Category competition where individuals can vote for their favorite brand within the emerging payments technology category.
"Zebit is incredibly passionate about putting financial control back in the hands of working Americans and to achieve this, we partner with employers to seamlessly integrate a first-of-its-kind benefit that helps organizations address workplace stress brought on by cash constraints," said Michael Thiemann, CEO and co-founder at Zebit. "We have created an entirely new paradigm shift as it relates to employers' role in providing their employees access to financial freedom. We're honored to receive this award from Paybefore as it acknowledges the impact and innovation behind Zebit's payment and credit model."
Partnering with leading employers and high-quality merchants, Zebit gives employees a responsible and affordable way to make life-event purchases without hidden fees—all through its ZebitLine, a closed-end retail installment credit model, and Zebit Market that features thousands of name brand products at competitive retail prices. While many of today's financing options for employees are ineffective or deceptive, Zebit holds true to its promise as a better financing alternative that never charges interest or penalties so employees can establish financial stability. By helping employees stretch their paychecks as far as possible, employers can maximize workplace productivity and engagement, while retaining and attracting talent.
"We've been recognizing excellence and innovation in payments for 10 years. Once again, we saw nominees from across the globe tackling payments problems with mastery and ingenuity," says Loraine DeBonis, Paybefore editor-in-chief and chair of the judging panel. "From Silicon Valley startups to established powerhouses, the winners in this year's competition reflect a dynamic industry with no sign of slowing its pace of expansion and change. We're proud to recognize Zebit's contributions to advancing payments."
Zebit will now vie for Best-in-Category distinction, which will be announced during the Pay Awards ceremony at the All Payments Expo in New Orleans on March 21. Visitors to Paybefore.com will have a chance to vote on Best-in-Category through Feb. 29. The outcome of this vote will be aggregated and combined with the judges' picks to determine Best-in-Category honorees.
To learn more about Zebit visit www.zebit.com.
Zebit is a free employee benefit that helps relieve working Americans from financial stress. The program equips employers with a no-cost financial wellness platform that seamlessly blends responsible financial and budgeting resources with a ZebitLine, interest-free financing without fees, penalties, or credit checks. When sponsoring Zebit, employers provide the equivalent of a five to 10 percent salary increase for their employees at no cost to the employer. A San Diego-based startup, Zebit launched in 2015 and is backed by VCs that include Crosslink Capital, Wildcat Venture Partners, Leapfrog Ventures and Correlation Ventures. Learn more at www.zebit.com.
Paybefore is the leading information provider to prepaid, mobile and emerging payments industry professionals, offering the latest news, commentary and analysis. Paybefore's family of media properties includes: Paybefore.com; Pay News; Pay Gov; Pay Week; Pay Op-Ed; Pay Magazine, Pay Awards Magazine and a global payments directory, Pay Connect available online. Visit us at www.paybefore.com.