MILLIONS of Brits will be offered the chance to get instant access to their salaries thanks to an exciting, new partnership.
Data experts Unveel.io and London-based multi-channel voucher distribution platform borofree.com are teaming up to allow gig economy workers the chance to get their wages instantly via a voucher system that caters to everyday essentials. These can be redeemed in 22,000 outlets across the UK, including major high street brands such as Tesco, Asda, Amazon, Halfords and Primark.
An estimated six million British adults are now working in gig economy roles, with that number predicted to grow to 7.25 million by the end of this year. But many face the issue of having to pay expenses such as fuel and insurance in order to carry out their tasks, while having to wait for the payment cycle to finish before they can access their salaries.
Max Moscicki, Vice President of Unveel.io, said:
“We believe all gig economy workers should be given the opportunity to access earned wages straight after each shift, not have to wait up to a month for an official ‘pay day’.”
Unveel.io provides real-time, granular income and work history data for 65 million gig workers around the world.
“We believe this partnership with borofree.com is another step in ensuring gig workers are able to budget more easily in the face of the current cost of living crisis.”
Patanjali Amin, CEO of borofree.com said:
“Through Unveel, we are democratising access to early earned wages that are normally only offered as employee benefits by large organisations. This leaves out a significant number of workers with limited options and exposes them to payday loans with astronomical fees attached. This free service is also complemented with 2% cashback at Morrison’s for groceries and petrol, our way of supporting the workers during this challenging time of inflation rise. For family and friends, our KarmaVouchersCashback allows you to earn up to 19.5% cashback when you spend at over 50 retailers including grocers and daily essentials. We believe this partnership will be relevant and significant towards helping gig workers manage their financial health much more effectively.”