The Austin-based neo-bank will help individuals and businesses regain money lost from the SXSW Coronavirus cancellation
AUSTIN, Texas, March 9, 2020 /PRNewswire/ -- Joust, the Austin-based banking app for freelancers and the self-employed -- and a Finalist in the 2020 SXSW Innovation Awards -- announced today that it will pay qualified users on their unpaid SXSW invoices to help mitigate the financial impact of the SXSW cancellation. The company will also provide anyone affected with zero payment processing fees on its FDIC-insured free bank account.
On Friday March 6th, SXSW officially announced that it would cancel its 2020 event due to concerns around the spread of Coronavirus. Thousands of local, national and international businesses have been impacted. In addition, freelancers, small businesses and self-employed workers have lost out on much-needed income.
"We are a local Austin company, so we can see first-hand how the SXSW cancellation has affected our economy," said Joust CEO, Lamine Zarrad. "There are independent workers and small businesses that depend on the income brought in by this yearly event, and we want to help them."
Joust will fund SXSW invoices using its invoice-factoring tool, PayArmour™. Qualified users will be able to submit their invoices via the Joust app, hit "Get Paid Now," and receive payment. Joust will also be waiving its payment processing fees on its free FDIC-insured bank account.
Anyone affected by the SXSW cancellation can redeem this offer using the code JOUST4ATX.
Joust is the nation's only all-inclusive banking platform for independent professionals. Founded in October 2017, Joust serves freelancers, contractors, and self-employed workers in all 50 states. The company's business banking app combines an FDIC-insured bank account with a merchant account to accept all kinds of payments. PayArmour, Joust's invoice guarantee product, mitigates client nonpayment—a problem that affects 71% of the gig economy workforce—and helps smooth income volatility with an option to receive same-day funding.
For more information, visit Joust's website at https://joust.com. The Joust app is available for download on both Google Play and the Apple App Store.