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Michael LuchenWe’re all moonlighting, or at least it seems that many of us are members of the “gig economy.” How are people being paid for their non-contractual gigs?

The term “gig economy” speaks to the fact temporary and short-term engagements make up a considerable portion of the American workforce. In fact, a study recently commissioned by Intuit predicted that by 2020, 40 percent of American workers would be independent contractors.

With that said, home-based business owners, contractors, and freelancers are especially in need of payment solutions, mainly because the many of these workers engage in services without contracts. Having an efficient payment option can be valuable protection.  

Exploring the growing number of payment solutions can be overwhelming for those looking to grow a business independently. Freelancers, positioned at the center of the economy, are asking that their merits and the quality of their work be met with fair pay. Fortunately, many e-commerce merchants can help make this possible.

Read on to learn the names of some of some digital solution services:

Worldpay | Worldpay is terrific because it operates on a global scale, facilitating digital payments across the world. It’s often selected a choice solutions who regularly transact payments because it is one of the oldest and more established options. Worldpay offers services to small business clients and larger organizations.  

OKMerchant | OKMerchant Payment Solutions is a Brooklyn-based credit card processing platform, which helps the business of all sizes to reduce or eliminate overwhelming transaction charges. The company should be particularly attractive to freelancers who shouldn’t want to squander their earnings on costly transaction fees.

Deluxe E-Checks | Sending a check via email is made easy with DeluxeE-Checks. While fewer businesses rely on checks, there are a few that continue to. It’s a compromise between the tangibility of paper checks and the speed of digital networks. Frequently property managers, contractors, realtors, notaries, and a few others are business use checks and often use this service to streamline payments.

Currency Capital | Currency Capital provides financing solutions to small businesses, enabling them to make equipment purchases. There are over 100 qualified lenders that are available to help facilitate the loans. Small businesses can use this when applying for loans without leaving vendor websites.

Dwolla | Dwolla provides an opportunity for users to build an online API for transferring funds that can be tailored to individual business needs. It does this while managing to maintain security and customer friendliness. The customer facing-portal is reportedly fast and secure, and it can even handle more complex payment process involving numerous parties.

Square | Square allows businesses everywhere a chance to accept debit and card payments, using just a plug-in and a tablet. This device is handy and offers customers receipts and security. The can easily go everywhere the business is needed.

What are some payment options you believe should be used by freelancers and contractors?