Salon franchises team up to introduce easy pay system
Salon franchises such as CostCutters, Fantastic Sams, Supercuts, among others have teamed up with fintech company Branch and ProPointSolutions, salon software developer of SuperSalon, to digitally pay employees tips and wages right after each shift at no cost to the salon owners or stylists.
The solution comes at a critical time as salon owners worry about lack of cash and stylist turnover. About 95 percent of customers transactions are paid via credit card, but salons continue to pay stylists and employees their tips in cash.
“The vast majority of stylists work hourly and earn a significant portion of their income via tips. But the rise of cashless payments has disrupted the cadence of those payouts, leaving salons to spend additional time to withdraw cash or distribute tips on fee-laden paycards,” said Branch CEO Atif Siddiqi. “Our partnership with ProPoint Solutions gives salon franchises a simple, fast way to deliver employees their pay and better tools to keep track of their money.”
The partnership offers additional benefits that salon owners can provide to support their stylists, including early access to earned wages and a direct deposit option. Unlike traditional paycards and banking services, Branch eliminates fees for users by providing fee-free FDIC-insured checking accounts and earned wage access at no cost.
Users can also use the application for contactless payments and onboarding, an overview of projected earnings, and auto-budgeting tools. Branch is the first same-day payment provider to be integrated directly into SuperSalon.