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Branch, an Employer Payments Platform, and Card Issuance Platform Marqeta Share Latest on Payments Preferences for Gig Workers
Branch, an Employer Payments Platform, and global card issuing platform
Marqeta have shared the findings from a study on the work and payments “preferences” of gig workers.
Surveying more than 1,000 workers who began engaging in gig and 1099 work during the past six months, the
Branch x Marqeta Gig Payments Report reveals that “driven by the pandemic, 85% of respondents said they had picked up additional work.”
As mentioned in a release shared with
Crowdfund Insider:
“People turning to gig work in the past six months may have been motivated by limited cash flow. Nearly 80 percent (78%) had less than $500 saved for an emergency and more than 40 percent of gig workers (42%) would not be able to access another source of funds outside of their primary bank account. Among top financial concerns, gig workers ranked home/rent affordabilit
Branch Engages with California Department of Financial Protection and Innovation (DFPI) on Memorandum of Understanding
Share Article MINNEAPOLIS (PRWEB) January 28, 2021
Branch, the employer payments platform, announced it has proactively signed a memorandum of understanding (MOU) with the California Department of Financial Protection and Innovation (DFPI). Through the agreement, Branch will collaborate with the DFPI to balance consumer protection with financial innovation.
Branch is among five earned wage access (EWA) providers to enter this agreement, believed to be the first in the nation between earned wage access companies and a state regulator. Under the MOU, the companies have agreed to deliver quarterly reports intended to provide the department with a better understanding of the products and services being offered and their impact on California consumers.
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