Global payments is seeing blurred lines between parties – whether B2B or B2C or P2P. But one audience that may be quietly making inroads into a veritable sea change in the way we live and work globally may also herald a sea change in payments — and that’s freelancers spanning the range of Web developers to writers and even to modern sole proprietors such as Airbnb hosts and Uber drivers.
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When I started freelancing in 2008, I was wary of telling people that I worked independently. Back then, there was still a stigma against freelancing. Thankfully, since then, the stigma has lessened considerably as freelancing has gained more respect and acceptance — and has become more lucrative, too.
A 2014 report from the International Data Group indicates that an astounding 40% of working Pakistanis freelance in some capacity. As a result, Pakistani freelancers have helped the country earn a spot among the top 10 earning countries for freelancers – no mean feat.
B2B payments are known to be inefficient and expensive. There is an immense need for streamlining settlements and reconciliation of business commerce. At present, the major challenges are international B2B payments, working capital optimization, zero cash visibility and friction in buyer-supplier relations.
Read MoreFreelancing is on the rise and this presents huge opportunities for workers, as well as the businesses that can leverage their skills to gain competitive advantage.
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Our first-time at the Phocuswright Conference was a success. We exhibited, we mingled and we soaked up the insights being shared by this year’s speakers.
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Around the world consumer adoption for eWallets has risen steadily. In the U.S. and other established countries, wallets have become ubiquitous with online shopping sites – PayPal and eBay, Alibaba and Alipay, the list goes on. Additionally mWallets such as Apple Pay are finding their ways onto mobile devices around the world.
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Last week, the Transpay team gathered in Las Vegas for an action-packed four days of sessions, exhibits and networking at Money 20/20. An event that featured more than 8,500 attendees, hundreds of sessions and exhibits (and Wyclef Jean), may still be a bit of a blur but several clear trends emerged from the event.
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From the Wall Street Journal to CIO and every publication in between, everyone is discussing blockchain and the potential widescale applications for the technology. Some have even called it as big as the Internet.
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