Gig Payments Report

Preferences for Platforms and Payments

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Platform and payment preferences in the gig economy today.
Gig / 1099

Branch x Marqeta Gig Payments Report

Platform and payment preferences in the gig economy today.
Get the Report

Introduction

The growth of the gig economy was already in motion, but the past year has sped up its transformation. People are finding freedom in gig work to carve out their own path in different ways and looking to it for financial security when times get tough. The gig economy is currently expanding three times faster than the U.S. workforce as a whole. And it’s projected that by 2023, more than half of the US workforce will be involved in gig work of some kind.

That’s why we’ve teamed up to publish the Branch x Marqeta Gig Payments Report—a look at payments and platform preferences of today’s gig workers. The report surveys over 1,000 gig workers across various platforms and fields. We dive into how the pandemic has impacted their preference for gig work, what they look for in a platform, how and when they preferred to get paid, and top financial concerns, among a range of other topics.

Key Findings

Platforms
  • The pandemic has led to an increase in gig work pick-up—85% of respondents have or planned to pick up more shifts because of the pandemic. 
  • Meal/grocery delivery has been by far the most popular app/platform, followed by rideshare.
  • The overwhelming majority turned to only 1-2 platforms to pick up gig work.  

Payments
  • Over 90% of workers associated faster pay with greater financial peace of mind.
  • Nearly 90% of workers were likely to choose one gig platform over another if it could pay you instantly without fees.  
  • Over 70% of gig workers prefer to receive their pay within the same day they work, with 39% preferring right after each job and 33% at the end of each day. 
  • Debit cards were overwhelmingly the preferred method of payment, followed by cash. 

Finances
  • Nearly 80% had less than $500 saved for an emergency.
  • Among top financial concerns, gig workers ranked home/rent affordability at the top of the list, followed by utility bills. 
  • More than 40% of gig workers would not be able to access another source of funds outside of their primary bank account.

Download the complete report to explore the rest of the survey findings.

Get the Free Report

Learn about the work and payments preferences of today’s gig workers and independent contractors.

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