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Supporting the Success of Gig Economy and Freelance Workers

Sarah Grotta by Sarah Grotta
March 4, 2020
in Analysts Coverage, Gig Economy, Real Time Payments
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Electroneum AnyTask; ETN Crypto, sales enablement

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I am starting to think that “gig economy” has now replaced “blockchain” as a favorite utterance in payment and fintech circles.  It is a fast moving industry where we find more platforms emerging that look to connect workers with employers.

A frequent use case for recently launched real time payments in the U.S. is to pay gig workers immediately. Adding to that, Wirecard and Xolo have announced a partnered to supply gig and freelance workers with a banking solution to meet this population’s unique needs.  It helps these workers not only with accounts and payments, but also with concerns like taxes and services to incorporate. 

Finextra reported: 

Xolo offers users a holistic business platform that provides incorporation, taxation, banking and accounting services, enabling them to set up and operate a hassle-free virtual business from anywhere in the world. Leveraging on Wirecard’s banking license, Xolo users can virtually open a business bank account within 48 hours, receive a Wirecard-issued debit card, and be able to effectively manage their banking, tax and compliance activity via a unified Xolo operation center.

Allan Martinson, CEO at Xolo, said, “This new partnership marks a significant step for Xolo as we strive to establish a new virtual nation for freelancers and solopreneurs. With the addition of Wirecard’s pioneering digital banking solution, we will continue to build out our vision for enabling millions of micro-businesses to get to market quicker and without the bureaucracy.”

Tags: Faster PaymentsFreelanceGig EconomyReal Time PaymentsWirecardXolo
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