Joust partners with Freelancers Union for freelance wage processing improvement

Joust banking platform and Freelancers Union have recently announced a new partnership that will allow Joust's diverse financial app to benefit freelancers needing banking services that combat clients with tardy or stolen payments.

Potentially the first service of its kind, the PayArmour Protection offered by Joust gives freelancers the ability to insure their wages up to $5,000 when a client missteps in payment. Best of all, according to research done by Freelancers Union and its 5,000+ members, this provides a solution to a problem that at least 71% of independent workers experience.

“The nature of work is changing, and 35 percent of the American workforce has turned to freelancing as a way to fulfill their goals. But our social infrastructure hasn’t kept up with this change, and many freelancers struggle with basic things like getting paid for the work that they do,” said Caitlin Pearce, Executive Director of Freelancers Union. “By partnering with Joust, we are able to offer freelancers special access to banking and payment protection services that will empower our members to continue to do the work they love.”

The Joust app also enables users to open a free, FDIC-insured deposit account backed by a community bank as well as a merchant account to process credit and debit card payments for their products and services. Altogether, Joust’s features directly address the shortcomings of modern banking to serve the needs of freelancers, who commonly experience obstacles with traditional banks through denial of loans, credit cards, and other services that are offered without question to "normal" businesses and salary workers.

Along with the announcement of the Joust-Freelancers Union partnership, Joust today also announced the immediate availability of the Android version of the Joust app. This follows last month’s launch of the iOS version.

“Joust’s partnership with Freelancers Union means freelancers now have ethical banking and financial solutions tailored to their specific needs,” said Lamine Zarrad, Joust co-founder and CEO. “Our PayArmour solution highlights our focus on the unique financial needs of the 35% of US workers who rely on freelancing and independent contracting to earn a living. Our entire product offering addresses the needs of this large and growing sector of the economy.”

Joust provides a banking toolkit equipped with solutions for the complex and dynamic needs of the independent workforce. We grant entrepreneurs a free and instant FDIC-insured bank account, a merchant account with the ability to accept credit cards and bank transfers from around the world, and an invoicing tool with invoice protection and instant funding. Founded in 2017, Joust is headquartered in Denver, CO.

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