For gig workers, cash flow is king — and instant pay delivers
Gig work apps like Uber and DoorDash offer their drivers instant pay options for quick cash deposits. A recent survey shows that speedy deposits are not merely a matter of convenience; they're key to drivers' financial stability.
Everee, a payroll provider for gig work platforms, found in a survey released Thursday that 59% of drivers working on platforms like Uber, DoorDash, Shipt, Veho, and others rely on gig work for at least half of their income. And, despite gig work's reputation as a side hustle, that income isn't just spare pocket change; it's essential for drivers looking to pay rent or shop for groceries.
The nationwide survey, conducted in May, compiled responses from 419 gig work drivers. Nearly 7 in 10 of the drivers surveyed work across two or more gig apps each month.
"Really, they're driving for their livelihoods," Dana Gagnon, the CMO at Everee, told Business Insider. "They're not driving for trips and luxuries in life. They're really driving to make ends meet."
A spokesperson for DoorDash told Business Insider that their internal statistics showed similar trends. Forty-eight percent of drivers for DoorDash pointed to getting paid quickly as one of the top reasons they choose to drive for the app, with about seven in 10 "Dashers" expecting to use their dashing income within the week, the spokesperson said.
About one in four DoorDash drivers expect to use their pay within days, per the DoorDash spokesperson.
Representatives for other gig driving apps, including Uber and Instacart, did not respond to requests for comment from Business Insider.
Wyatt Taylor, a 19-year-old DoorDash driver, told Business Insider he relies on the app's partnership with Crimson to get his pay delivered directly to a personal banking account immediately, free of charge, after every trip he makes for the app.
"If you need to make something happen, like if you're needing to fill up your gas tank, then you're not having to wait till Monday," Taylor said. "You can just do a DoorDash, and then after you're done, you can just go and take your car to the gas station."
And that quick turnaround is increasingly important to drivers trying to maintain a longer financial runway, Everee found. The Everee survey found, in general, 65% of respondents had taken a payday loan or cash advance because payouts lagged, and 61% delayed paying a bill or making an essential purchase while waiting for their earnings to hit their account.
Stephanie Riggs, a 54-year-old driver who uses the catering delivery app, Dlivrd, told BI that, while she generally prefers to stack her payments for weekly cashouts, part of the reason she prefers to make gig driving her full-time job is the freedom in both working hours and payment options — so "if I was ever in a situation where there was an emergency, those funds are available and flexible."
Faster pay is gaining traction across industries
The demand for flexible payment options is expanding beyond traditional gig work, as well. Business Insider previously reported Gen Z is bringing a gig work mentality to corporate America, and some corporations are taking notice of the preference for more customizable ways to access their paycheck.
Tate Hackert, cofounder and Chief Strategy Officer of ZayZoon, a software company that provides employees with access to their earned wages before payday, told BI that many franchised McDonald's locations use his company's software, as well as brick-and-mortar businesses like coffee shops and home healthcare services.
He added that 55% of the company's customers are 34 years of age or younger, with women making up more of ZayZoon's users than men. Hackert said he believes the generational slant is driven partially by younger workers' desire for better control of their finances — a preference they picked up from gig work — but, overall, he said, "it's a cash flow issue."
"It's not always an income issue, although, of course, more income can always be better," Hackert said. Workers may have enough overall income in a month to cover all their expenses on paper, but may not have enough in their account to cover each bill at the time the balance comes due, making flexible paydays preferable, depending on each employee's needs.
Gig drivers with access to more flexible payment options also report better satisfaction with the apps they drive for, Everee found. Their survey found drivers who get paid instantly reported 13 percentage points higher satisfaction than workers on weekly cycles.
Hackert said ZayZoon has found the same, adding that the gratification of instant pay is a strong incentive for workers to pursue gigs like delivery driving rather than traditional jobs — especially for those who already have a full-time role.
"So if you're an employer, your competition isn't just the brick-and-mortar employer across the street, it's actually the gig economy," Hackert said.
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