Contingent Workers Spark Need for Agile Workforce Payments

As companies expand their global contingent workforce, efficient cross-border payments become essential, Papaya Global Chief Product Officer Amit Levi writes in in a new PYMNTS eBook, “Halftime 2025: Charting the Future of Payments.”

Today, contingent workers comprise 40% of the global workforce. Getting them paid accurately and on time is one of the main challenges organizations face, especially as they scale and grow. Tech-driven payments solutions for contingent workforces are as necessary as they are disruptive.

Consider a few examples: An independent cargo ship captain, piloting goods between China and Spain, taking shore leave in various locations and sending money back to his family in Norway; an American exchange student in France writing for a British magazine; or a seasonal concierge at a 5-star resort in Albania, who has no access to a physical bank.

These workers are all contingent talent. And they need to get paid. But paying them goes far beyond direct deposits. Aside from calculating payroll and payments according to local and international regulations, how do you deposit payments to someone who is unbanked? Or someone who works abroad and requires payment in several currencies?

Now multiply that complexity by 1,000. Or 100,000.

Fortunately, FinTechs are transforming this industry with digital wallets and virtual bank accounts. These tools streamline global disbursements, support multiple currencies and payment methods, and reduce dependency on traditional bank rails.

As companies expand their global contingent workforce, efficient cross-border payments become essential. Workforce digital wallets help solve common international payment challenges by simplifying currency conversion and reducing exposure to foreign exchange risk.

Digital wallets for workforce payments enable the seamless integration and use of digital assets like cryptocurrencies, giving workers more flexibility in how they receive, store and use their earnings.

Another advantage of the digital workforce wallets is early access to earned wages. This transforms the workforce payments experience by giving workers greater financial freedom and reducing reliance on high-interest credit or payday loans. This empowers workers to manage unexpected expenses and improves overall financial well-being and job satisfaction.

For workers, digital wallets offer faster access to funds, fewer fees and the ability to receive payments in their local currency, even when they’re unbanked or on the move. They also support financial well-being by offering greater visibility and flexibility in how earnings are accessed.

For companies, wallets reduce friction, cut costs, improve compliance and provide control over global disbursements, all while enhancing the worker experience.

With 68% of companies unable to forecast contingent labor needs beyond 30 days, agility in workforce payments is no longer optional — it’s a business imperative.