ZiFi is a digital bank offering small businesses a fee-free business checking account with interest, alongside credit card processing solutions. Their platform provides transaction authorization controls and personalized support to help businesses efficiently manage their finances.
Funding
Funding not disclosed
Founders
Product
Problem
Small businesses often face challenges with high fees and a lack of transparency when managing their finances and processing credit card payments. Traditional banks may impose monthly fees, transaction fees, and minimum balance requirements, while payment processors can have hidden fees and complex pricing structures. This can make it difficult for small businesses to control costs and manage their cash flow effectively.
Solution
ZiFi offers a digital banking solution tailored for small businesses, providing a fee-free business checking account with interest and at-cost merchant services. The platform aims to provide transparent and affordable financial tools, eliminating setup fees, monthly fees, and hidden charges. ZiFi's Interchange Plus pricing model for merchant services passes on interchange and assessment fees from card brands, charging only a small authorization fee per transaction. This approach allows businesses to save money on payment processing while benefiting from modern digital banking features and personalized support from a dedicated banking team.
Target Audience
ZiFi primarily targets small business owners who are looking for transparent, affordable, and digitally-driven banking and payment processing solutions.
Features
- No monthly account fees, transaction fees, or minimum balance requirements for business checking accounts
- Interest-bearing checking accounts with FDIC insurance up to $250,000
- At-cost merchant services with transparent Interchange Plus pricing (interchange fees + 9¢ per authorization)
- Access to Clover terminals for in-person and online payment processing
- Virtual terminal for accepting payments on any computer, tablet, or smartphone
- Next-day funding available for eligible merchants with a ZiFi Business Checking account
- Integration with virtual payment methods like Apple Pay and Google Pay
- Dedicated relationship manager for personalized support
- Online application process and digital banking tools accessible via a mobile app