Tipalti’s Payment Capability: Solution Overview and Analysis 

Technology has made it easier for workers to find gigs and employers to find workers. The gig economy is estimated to represent about $2.7 trillion in disbursements a year. But getting paid on time is still a challenge. According to one report on gig workers last year, despite gig work being on-demand, only 17% of gig platforms pay in real time. Many gig workers experience expenses in real time, yet it can take weeks to get paid.

A McKinsey report stated that by 2025 online talent platforms connecting people to the right work opportunities could add about another $3 trillion to global GDP. 

The explosive rise of peer-to-peer apps in a slew of markets — ranging from media content, real estate, creative content to business assistance — has helped legitimize the gig worker. 

But as the service and gig economy grows, the complexity of paying a global vendor base of independent contractors and freelance workers increases as well. Companies like Twitter, GoDaddy or Google just couldn’t grow without automating their AP, payments and tax compliance.

Let's take a look at how Tipalti's payment capabilities are addressing these challenges.