What is a GIG worker?
A GIG Worker is an individual contractor who performs temporary, part-time, casual or freelance work, either on an on-demand basis or for a specified duration.
Industries who work with GIG workers include:
Why do 50% of GIG workers prefer a Mastercard digital or combined digital and plastic Prepaid Card?
GIG workers experience volatility in terms of pay and benefits and are financially vulnerable. There is a demand for Real-Time Disbursements. This is a key pain point for GIG workers
No bank account fees. Bank accounts with a debit card attached cost around $60+ a year^.
No need for a bank account and a 100-point check.
Keeps this earning separate to other income.
Safer than cash.
Digital is their preferred medium. Many gig workers see themselves as digital nomads.
Why do GIG Economy Companies offer Digital Prepaid Cards?
- Improves retention of GIG workers. The study by Visa found that 70% of GIG workers would do more work if they were paid faster.
- Makes their company stand out by offering real time payments via a Digital Prepaid Mastercard.
Employers can choose from:
- Reloadable Cards for ongoing payments
- Single-load Cards for ad-hoc payments or expense reimbursement
- No chasing of bank account details, saving admin time.
- Enhances their reputation. Generation X and Z increasingly evaluate working for, and buying from companies based on the values of the company.
- Streamline and simplify the payment options.
- Easy to use Client Portal. Employers can easily manage their tailored card program.
- It is simple and minimal administration required. Simply give the GIG worker a choice of payment to their bank account or to a Digital (and Plastic) Prepaid Mastercard.
- Drive brand loyalty with a branded prepaid card. They are reminded of you every time they use their card.
^Source: Debit Card Surcharge Fees
Make your company stand out and attract talented GIG workers by offering the choice of payment
to their bank account or their Digital Prepaid Mastercard.