New Service Aids Cash Flow of Independent Contractors
Openforce®, provider of the most widely adopted platform for onboarding, settlement and risk management solutions for the transportation industry has launched a new partnership designed to give independent contractors cost-effective, early-access settlement funds.
For a small fee, this new service, offered through ZayZoon and integrated with Openforce’s IC Pay, provides on-demand access to upcoming settlement payments*. As a result, independent contractors can improve their access to cash, while escaping the exorbitant rates common to the payday lending industry.
IC PAY & ZAYZOON SOLUTION
“We have built out the most powerful portfolio of independent contracting management solutions, including settlement processing of more than $1.5 Billion last year, and we are committed to delivering products that help contracting companies and independent contract workers build sustainable and profitable businesses,” said Drake Pruitt, CEO of Openforce. “Integrating with ZayZoon to offer early settlement funds access was a natural fit for us and for our customers. This is just one of several upcoming innovative products and services we will be offering that support our vision of work without limits.”
Driver Benefits
- No credit checks.
- Fast sign up, and all made possible by a trusted integration with Openforce’s IC Pay.
- Funds sent directly to their bank account.
- Full customer support.
Contracting Company Benefits
- No-cost benefit available to independent contractors.
- No burden of guaranteeing re-payment.
- Secure integration with IC Pay services already in place.
- Repayment automatically deducts from the IC’s next settlement.
- Helps independent contractors stay contracted by managing their cash flow challenges.
And if you’re a contracting company that is already doing advances for independent contractors, IC Pay eliminates all the administrative work and provides a much better practice in support of proper IC contracting.
Companies new to IC Pay, and in need of a flexible payment platform for on-demand workforces that helps combat predatory lenders and overdraft fees, are encouraged to visit www.oforce.com/ICpay or email sales@oforce.com for more information.
*Settlement-advance amounts vary based on settlement cycle and settlement history in IC Pay.
Openforce is the leading third-party administrator for independent contractors with over 350,000 owner operators properly contracted, insured and paid. Entire industries, like transportation and logistics are redefining the conventional models of work that fall short on cost, efficiency and meeting customer demand. Which is why from our cloud-based applications to our superior services, Openforce helps transportation leaders achieve more sustainable, profitable growth by removing financial, operational, and compliance barriers to getting business done. Learn more at www.oforce.com.
