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.

Japan’s Mitsubishi UFJ Financial Group Inc. is investing more than $700 million in Southeast Asian ride-hailing giant Grab, gaining access to millions across the region that use the mobile app to book cars and meals.

The rise in food delivery options is affecting restaurants of all kinds. It's a trend driven by consumers' strong appetite for mobile ordering and payments.

The startup has added more sophisticated invoicing features, sleeker onboarding and a more detailed dashboard.

Uber Technologies Inc. will sell Uber Eats in India to local rival Zomato in a $172 million deal, according to a person familiar with the transaction, underscoring the ride-hailing giant’s effort to cut back on loss-making operations.

Digital technology is increasingly connecting compensation and payment capabilities for contractors and creating an ability to share apps. It's a trend that’s brought Citi and PayPal together to offer flexibility and a network effect to counter fintechs.

Stripe and Adyen are among the best known and most VC-friendly firms that enable quick account onboarding for gig economy supply chains — but a lot of competitors are gunning for their position.

After the last two decades of selling prepaid cards and bank accounts direct to consumers, Green Dot has increasingly been shifting gears to rent out its payments and banking infrastructure to nonbanks who want to offer cards and banking services to their users.

Rapid-fire acquisitions, partnerships and investments in the likes of Uber, Lyft and Grab are transforming these ride-sharing providers. And much of this activity is built on their ability to handle payments seamlessly as part of the experience.

Payoneer found its niche providing technology for Amazon, Google and Facebook to deliver mass payouts to independent contractors, but the company has added options for small U.S. businesses to send payments to vendors and suppliers globally.

The startup, Drum, provides a marketplace for small businesses to offer promotions to influencers who can help them drum up business.