Unlocking the Potential of Gig and Creator Economies with MicroPayouts

The recent growth of freelancing work has brought about a significant shift in the way we work. This trend is not just a passing fad but a transformative change in the global economy. With the rise of gig economy platforms catering to a diverse demographic of users and customers worldwide, there is a growing need to address the challenges of paying these users in their local currencies. This is where micropayouts come into play, offering a solution to streamline payments for gig economy workers.

The gig and creator economies have seen exponential growth in recent years. In 2024, the gig economy had a market size of $556.7 billion, and by 2032, it is expected to triple to $1,847 billion. Gen Zs and younger millennials are increasingly turning to the gig economy as their primary or supplementary source of income, with around 1.57 billion people, or 47% of the global workforce, earning as freelancers. Creator economy platforms like Fiverr, Upwork, Uber, and Airbnb have thrived in serving this sector, with Africa, India, and Pakistan emerging as key markets for freelancers.

Social media platforms have become digital workplaces for creators and content cultivators, allowing them to monetize their content through donations, tips, partnerships, and other funding mechanisms within their platform’s ecosystem. As the gig economy continues to grow, the demand for efficient payment solutions that cater to the global and youthful workforce becomes increasingly important.

Micropayouts, a subset of micropayments, refer to small value payments made to individuals or businesses in their local currency, typically below US$10. These micropayouts play a crucial role in serving creators, freelancers, and gig economy workers by addressing key challenges such as recognizing earnings reliably, providing payment options, and minimizing fees associated with FX conversion.

When selecting a payment platform for mass micropayouts, several factors need to be considered, including coverage, reliability, compliance with regulations, security, flexibility, customer support, and pricing. Thunes, a Smart Superhighway for moving money around the world, offers a reliable and scalable payment platform that can process high volumes of cross-border transactions in near real-time. With a single API connection to their Direct Global Network, Thunes enables payments in over 130 countries and 80 currencies, connecting to over 7 billion mobile wallets and bank accounts worldwide.

Thunes’ transparent transaction process, regulatory compliance, and flexible pricing structure make it a preferred choice for gig economy platforms looking to streamline their payment operations. By partnering with Thunes, gig economy providers can offer their freelancers and creators a reliable source of income, ensuring financial stability and allowing them to focus on their work. Thunes’ global reach and efficient payment solutions make it a valuable asset for platforms looking to enhance their micropayout capabilities and support the growth of the gig and creator economies.