2021 Gig Payments Report

Preferences for Platforms and Payments

Register Now

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
Presenter
This is some text inside of a div block.
This is some text inside of a div block.

Lorem ipsum dolor sit amet, consectetur adipiscing elit. Suspendisse varius enim in eros elementum tristique. Duis cursus, mi quis viverra ornare, eros dolor interdum nulla, ut commodo diam libero vitae erat. Aenean faucibus nibh et justo cursus id rutrum lorem imperdiet. Nunc ut sem vitae risus tristique posuere.

Empower your workers with impactful financial wellness.

Branch offers a mobile digital wallet for working Americans. An on-demand hub that helps them meet their everyday financial needs, our app allows any employee to receive money, manage their cash flow, and spend anywhere – all from their smartphone.

Pay Your Employees Instantly
Make Tips & Mileage Reimbursement Easier
Provide a Risk-Free
Banking Experience
All for FREE with Branch!
Understand the trends that are driving gig payments in 2021. Download our report for valuable data on payment preferences, challenges, and opportunities.
Gig / 1099

2021 Branch x Marqeta Gig Payments Report

Understand the trends that are driving gig payments in 2021. Download our report for valuable data on payment preferences, challenges, and opportunities.
Get the Report
Looking for the most up-to-date version? Check out the latest Gig Payments Report here.

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 gig economy payment trends and 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.

Looking for the most up-to-date version? Check out the 2022 Gig Payments Report here.

Get the Free Report

Learn about the gig economy payment trends and preferences of today’s gig workers and independent contractors.