B2B Payments

Work Market Enables Faster Freelancer Payment

Shutterstock

Work automation company Work Market is rolling out new features to help 1099 workers get paid more quickly and enable employers to pay those workers in the way they want.

In an announcement today (Feb. 7), Work Market revealed the launch of Fast Funds Mobile, a way for freelancers to get paid as soon as their job is completed and as soon as their employer gives approval. The feature enables these workers to gain instance access to their funds via the Work Market mobile app, the company said.

Another feature rolling out today is Work Market’s Off-Platform Payments capability, which enables businesses to pay their freelancers using third-party payroll systems, including ADP, Paychex and QuickBooks. Companies can pay their freelancers as soon as the job is done and select which payroll provider they’d like to use.

For businesses that have freelancers in other countries, Work Market’s Off-Platform Payments feature enables them to pay those workers in their local currency, while keeping all payroll information on a single platform.

Both services are geared towards helping freelancers get paid faster, the company said, with a key challenge in the freelancer segment being payment delays.

“Business leaders are increasingly leveraging talent outside of their four walls to remain agile enough to complete in our digital world,” said Work Market CEO Stephen DeWitt in a statement. “As the use of contingent labor continues to grow, we’ve seen payment headaches remain a top concern for businesses and workers alike. We’re proud to enhance our product to solve modern business needs, like the need for more flexible payment options for the on-demand workforce.”

——————————

PYMNTS TV LIVE OCTOBER SERIES: B2B PAYMENTS 2021 – WHAT WILL YOU CHANGE? 

Banks, corporates and even regulators now recognize the imperative to modernize — not just digitize —the infrastructures and workflows that move money and data between businesses domestically and cross-border. Together with Visa, PYMNTS invites you to a month-long series of livestreamed programs on these issues as they reshape B2B payments. Masters of modernization share insights and answer questions during a mix of intimate fireside chats and vibrant virtual roundtables.

Click to comment

TRENDING RIGHT NOW