Problems With The Gig Economy
From costly wire transfer fees, to fraudulent and un-secure payments; the gig economy is riddled with problems when it comes to payment.
For Freelancers:
Payment Uncertainties and Management: Freelancers often face uncertainties in receiving payment and managing their payments.
Delayed Payments: Delayed or non-paid invoices creates stress and financial strain.
Manual Payment Tracking: Traditional payment processes involve manual tracking and follow-ups.
Intermediary Involvement: Heavy intermediary involvement which controls the sending of funds.
Payment Fraud: Freelancers may receive payments that turn out to be fraudulent or from stolen credit cards.
For Hirers:
Payment Fraud: Hirers may be scammed by fake freelancers who take payment without delivering the promised work. Payment and fraud issues are common when hiring others for work.
Trust: Confirmation of work completed is often a challenge for employers and there are no protections for work performance issues.
Insecure payment systems: Hirers may use insecure payment systems, which can lead to payment data being compromised and fraudulent charges.
Limited Contract Templates: Contract customization limitations.
For International Workers:
Fees: Global freelancers may earn more money, but they also face challenges related to currency exchange and wire transfer fees.
Currency Weakness: Local or regional currency weaknesses can negatively impact their earnings as a freelancer.
Last updated