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Payments General

Workana selects Transpay to pay out its freelancers

Tuesday 12 June 2018 | 12:50 PM CET

Transpay has been selected by Workana, a Latin America freelancer platform, to pay users in Latin America, Spain and the US through Transpay’s payout network.

Workana, a recent recipient of funding from Google’s Launchpad Accelerator program, can now compensate its freelance community paying them in local currency and directly into their bank accounts.

Transpay conducted a survey of 886 female freelancers in the US and India earlier in 2018 that provided further insights on the most challenging payments complexities or freelancers. The study found that 90% of India respondents and 41% of US respondents named ‘payments transaction fees’ as one of the biggest challenges. In India, an advanced developing economy on par with Mexico, female freelancers also indicated that they are not receiving compensation through their ideal channels: 0% of respondents are paid via direct-to-bank deposit, even though nearly half of them (48%) would prefer it.

The global freelance economy is expected to continue growing. Recent data from Workana’s 2017 Freelance and Entrepreneur Survey shows that 23% of the 5000 survey respondents in Latin America plan to become full-time freelancers, buoyed by the growth of online marketplaces and rising number of digital and cross-border payment channels, according to the press release.

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