Gig Wage is laying the foundation for the financial infrastructure for the global 1099 Gig Economy. Bringing modern payroll, payments, and banking to companies and contractors alike. We believe that businesses should have dedicated technology, strategies, and processes for paying, managing and supporting their independent contractor workforce.
Most businesses use an array of software platforms and technology to help run their business. The vast majority of technology systems they use are designed for a traditional workforce and antiquated processes. This has been sufficient for the last 100 years or so but no longer. With the emergence of high growth tech companies like Uber, AirBnB, DoorDash, Lyft, Postmates and others, the way we live, work and play has all changed. This is a macroeconomic shift that is a result of modern technology (mobile, AI, 4 and 5G), the Fourth Industrial Revolution, millennials being the largest generation in today’s workforce, Gen Z entering the workforce and Baby Boomers realizing their retirement isn’t as secure as they thought; All leading to the explosion of the Gig Economy.
We believe this massive shift in work requires not only new ways of thinking and new processes but new technology. The foundation of a company is the people and more and more of today’s people want freedom and flexibility above all else. Companies need technology solutions that can offer that flexibility. Contractors, freelancers, on-demand workers, and contingent staff are all 1099s. Nearly 40% of the US workforce is some type of independent contractor and in the next 10 years, 60% of the global workforce will be an independent contractor.
The unique insight that Gig Wage has developed, which is now our competitive advantage, is that the Future of Work requires the hybridization of three major verticals: payroll, payments, and banking. Over the past few years, we’ve seen innovation and disruption within each vertical. Gusto in Payroll, Stripe in Payments and Chime, Simple, and others in banking. However, when it comes to the future of work Gig Wage quickly recognize that a horizontal integration was required to be truly paradigm-shifting
Out of the box Gig Wage gives you ready to go payroll and payments infrastructure. Allow your contractors to self-onboard and self-manage their payment information through our contractor portal. White-labeling is available.
Let Gig Wage manage payment-related support issues for you and free up your team's time for core issues.