The growth of the “gig” economy could have far-reaching implications for payment systems. Gig work involves digital platforms that intermediate between workers and (retail or business) customers, in areas as diverse as ride-hailing and food delivery, freelance design and professional services, and customer service. While some activities are paid in cash, most involve digital payments, both domestically and across borders. The role of platforms in such payment services is fundamental, and the choice of payment methods has implications for costs, settlement time, recourse in case of conflicts or payment fraud, among other aspects. As the gig economy continues to grow, authorities need to ensure that emerging payment arrangements evolve in line with existing policy goals. Promoting low-cost, inclusive, fast and interoperable payment rails, eg through fast payment systems, may be an effective way to empower workers and consumers and to promote more inclusive and competitive economic outcomes.
