Gig economy

The gig economy flourished in part for its ability to get timely payments to workers. Uber and Lyft, for example, offer express payments to drivers who need to use those funds to refill their gas tanks before picking up the next rider. But these payment innovations mean very little when there isn't sufficient money flowing into the system.

Cash use will suffer because of this outbreak, and there are factors other than germs contributing to this trend. A growing work-from-home workforce will funnel more shoppers into digital channels, including ones they may have never tried before.

The increase in quarantined customers has forced food delivery companies to balance a potential boom in orders alongside the risk of spreading sickness to both customers and drivers.

Digital financial technology provider Wirecard AG is partnering with Grab to process transactions from the GrabPay e-wallet in Malaysia, the Philippines and Singapore.

Grab Holdings Inc. closed offices in Singapore and Thailand for five days of cleaning after a Singapore-based employee, who previously visited the Bangkok office, tested positive for the coronavirus.

Companies that give employees early access to earned pay don't want to be lumped in with payday lenders, so they are putting a new spin on their pitch: It's a tool to lure and retain valuable workers.

Immediate payments through an existing payments platform means firms can pay quickly, satisfying the expectations of gig workers who are increasingly important to the company’s functions.

BBVA and venture capitalist Anthemis Group are providing seed funds to U.K. fintech Wollit that will offer a subscription-based cash flow product for gig economy workers.

The International growth of the gig economy requires hyper-local solutions, a challenge many fail to appreciate. This isn’t just in how a company articulates its value proposition locally.

Global fintech Ebanx is partnering with Uber to enable consumers in Brazil to pay for the ride-sharing service by topping up their Uber Cash balance with the country's voucher-based payment system.