Disbursement Tracker – Oct 2018

Which disbursement solutions are best suited to gig economy workers’ needs?

“As seen in this month’s stories, gig economy workers love the flexibility of their jobs but expect their pay to be as easy and convenient to manage. Even traditional payment options like direct deposit and ACH do not conform to this modern ideal of work. The laborious requirements to set up ACH payment, and then its payout restrictions to weekday business hours — with delays that can take hours, up to days — make it inconvenient for a workforce conditioned to immediacy.

On the flip side, the rise of push payments is uniquely suited to this workforce. Operating on traditional payment rails but funding in reverse, push payments allow workers to be paid in the same trusted, easy way they pay everyone else: using the familiar cards and accounts in their pockets or on their phones. Gig economy workers’ preference for PayPal already indicates their desire for faster, more flexible payment options. Push payments take that to the next level.

In the middle of a rideshare driving shift, but want to be paid out for the rides you’ve already completed? Push payments make it possible. Just request payment, pick your preferred account and fully guaranteed funds arrive in real time. This technology has already been proven out in many other sectors, from insurance to lending to merchant settlement. It will rapidly rise to prominence in the gig economy as well.”

Drew Edwards
CEO at Ingo Money

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