In the evolving work environment, the gig economy is reshaping the employment market. Freelancing is growing globally every day due to technological advances, post-pandemic demand for flexibility, remote work opportunities, business cost-saving strategies, generational differences in business perspectives, and changing preferences of the workforce towards autonomy.
According to the latest official sources, there seems to be an unprecedented increase in freelancing. The global freelancing market has grown by 41% since 2020. It is also estimated that there are approximately 1.57 billion freelancers in today’s workforce.
While the numbers indicate a rapid growth, companies that follow the wave of innovation and expand their work areas with freelancers are looking for and using alternative solutions to meet the new needs of this workforce.
Payment Options for Freelancers
It is very important to ensure that freelance payments are made on time and securely. Since freelancers do not have a fixed payday, they shape their lives according to the payday. Similarly, companies want to take correct accounting steps by making individual or bulk freelance payments on time.
Since freelancers usually work with clients from different geographical regions, it makes it necessary to choose payment methods that are both reliable and convenient for both parties. The most common methods for freelancers include bank transfers, credit card payments, online payment systems and crypto payments, which is a new alternative.
The chosen payment method greatly affects the financial situation of both parties. When deciding on this, it is important to consider factors such as commissions, transaction times and ease. Choosing the right payment method not only increases cash flows, but also establishes stronger, trust-based relationships between the freelancer and their client.
Make Payments Using Credit Cards
The method of receiving payment via credit card is a practical option widely used in international trade. The convenience provided by credit cards offers great advantages for both buyers and sellers. Freelance payments made via credit card have many advantages. First of all, it eliminates the need for the company that will be making the payment to have cash on hand. Providing this payment option allows clients to pay freelancers more easily, resulting in faster payments and a better working relationship.
Security should be at the forefront when using credit cards. These measures are very important in terms of ensuring the security of both businesses and consumers. Freelancers can provide the basis of sustainable relationships with their customers through the payment methods they offer. As a freelancer, banks will not authorize you to receive payment via credit card. In order to receive virtual POS authorization from banks, you have to establish a legal entity. Platforms like Ruul allow clients to pay with credit cards and enable freelancers to receive payments in crypto.
Receive Payments with Cryptocurrency
In recent years, cryptocurrency has become a revolutionary payment method for freelancers. It’s not only a modern alternative to getting paid as a freelancer, but it also provides a number of benefits. One of the most striking features is the possibilities it provides for international transactions. Another important advantage is the security that cryptocurrencies offer. With blockchain technology, transactions are encrypted and a record of each transfer is kept.
Transactions made with cryptocurrencies usually pay a much lower commission. This means that freelancers can keep almost all of the payments received. For example, for transactions made with popular cryptocurrencies such as Bitcoin or Ethereum, the transaction fee is usually limited to a few dollars. This savings allows freelancers to earn more and manage their earnings more efficiently.
In addition, the speed of payments made with cryptocurrencies is another advantage for freelancers. While traditional methods require processing times that can sometimes take days, cryptocurrency payments can usually be completed in a few minutes. This speed allows freelancers to finance their projects faster and manage their cash flow better.
