#GigEconomy #Fintech
Gig economy & Fintech to coexist


Gig platforms are challenged by meeting local payment dynamics, regulations, and compliance. Digital experiences will be integral to in-person dining, from the moment an order is placed to the minute the check is paid, and consumers are ready to embrace the change. The growth of the gig economy and fintech go hand in hand and the Fintechs and other providers are enabling new work models and payment options, which is fuelling growth in the gig economy in terms of participation, productivity and attraction of new entrants. A report shows, among Gen Z and Millennial respondents (ages 18-34), 57% said they would prefer to order and pay at the table using their own mobile device, rather than through a server. The younger generations are not alone, as more than one-third (35%) of those aged 35 to 54 said the same. In addition, 31% of 18 to 34-year-olds and 10% of 35 to 54-year-olds would be more likely to frequent a restaurant that offers this payment option.

Businesses need speed and flexibility in order to stay focused on their growth goals by onboarding new clients, without the need to address potential security risks and maintenance associated with traditional in-house builds. By using the right cloud-based software, banks and factoring companies have access to a wealth of opportunities that are available immediately, instead of having to test, run and develop services in-house. In this way, new businesses can leapfrog forward, tailor-making a microservices offering from a variety of industry tried and tested processes, making new features available to customers with a short time to market.


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