Dutch bank ABN AMRO has created an instant payments service for flexible workers in the gig economy market.
The payment tool will enable flexible workers to have their earnings paid out themselves in a more time-efficient and easier way.
As the gig economy continues to grow, the ballooning number of flexible workers are using digital platforms to find jobs based on an hourly basis.
However, many of these workers can sometimes have to wait weeks before their receive their pay. According to ABN AMRO, its new service will help its users decide for themselves when their invoice is paid once their work is complete.
The bank highlighted this shortens the time between when work is complete and payment from numerous weeks to one second.
ABN AMRO originally began piloting the payments service in the Netherlands last year alongside Dutch babysitting platform Charly Cares and is currently teaming up with on-demand parcel delivery service Packaly. The bank said a third pilot is expected to start soon.
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