<img src="https://trc.taboola.com/1248702/log/3/unip?en=page_view" width="0" height="0" style="display:none">

Now more than ever, freelancers are a driving force in the global economy. Freelancers account for a larger portion of the global employment market than ever before, and according to a recent Mastercard report, “Welcome to the Frictionless Future,” their numbers are expected to grow at an average rate of 13 percent year-on-year to around 915 million by 2023. 

Although the number of freelancers is growing rapidly, the demand for freelancers is growing even faster. As a result, competition among gig platforms for freelancers is heating up. In the coming years, gig platforms will be challenged to attract and retain freelancers, and according to the Mastercard report, projections show that demand will outstrip the supply of freelancers in five years’ time. Very quickly, real-time payouts are becoming much more than a wish -- they’re becoming an expectation, and gig workers are already seeking out platforms or employers that allow them to access their funds on demand. Immediate payment upon completion of work will enable a new generation of workers to build lives based on choice and flexibility.  

At Transpay, we’re driving payments change with Local Bank Transfers. This simple and transparent payments method uniquely enables our clients to meet and exceed the expectations of the global freelancers that work on gig platforms. Local Bank Transfers deliver funds in real time to within 24 hours to your recipients in more than 125 countries worldwide. Funds are sent directly to their bank accounts in the local currency. And, with guaranteed rates, you can tell your recipients the exact payout amount they will receive in their local bank account. 

Global platforms are recognizing the need for both flexibility and stability when it comes to the work lives of the freelancers that are the lifeblood of their business. Local Bank Transfers an ideal method to keep the funds flowing in a frictionless manner across borders, and to provide a payment structure that will enable your platform to be relevant to freelancers both now and in years to come. 

Check out how how a leading global marketplace for services sees rapid adoption of Transpay's Local Bank Transfers, reducing payout complaints.

Article Categories:
Related articles
Local Bank Transfers

2019 Trends that Powered the Growth of Local Bank Transfers

In January, we shared the Top 4 Payouts Trends to Look For in 2019, in which we detailed trends we were watching and expecting to make an impact in 2019. In July, we...

Advertising And Affiliate Networks

Three Ways Networks Can Improve Payments to Global Affiliates and Publishers

Affiliate marketing, a process that enables publishers and affiliates to earn a commission by promoting other people’s (or company’s) products, has done an expert job of...

Local Bank Transfers

The Three Biggest Cross-Border Payments Struggles No One Talks About

Do you ever wonder if anyone else in your company “gets” what you do? Cross-border payments is a fast-changing and complex area and as a result, your colleagues might have...

Why Transpay

Six Years of Transpay: Our Commitment to Fast, Reliable Global Payouts

We can’t believe it’s been six years! When Transpay launched in 2013, it was with a mission to make mass cross-border business payouts more efficient and effective for...