ABN Amro has announced that it is introducing a new instant payment service for the gig economy.

The new service aims to make it easier for flexible workers to decide when their invoice is paid once the work is done.

The Dutch bank said that this will shorten the time between when the work is delivered and payment from a number of weeks to one second.

ABN is piloting the new service with babysitting platform Charly Cares – which signed up last year.

Packaly, an on-demand parcel delivery service, is also using the instant payments feature.
The service is gradually being rolled out in a pilot phase with bicycle couriers.

The bank expects to start a third pilot “very soon,” in which temporary workers will use its new service.

“With the number of flexible workers growing every day, a gig economy is unfolding in the Netherlands in which temporary insourcing is the norm,” said ABN Amro. “Digital platforms are accelerating this process by matching supply and demand at low transaction costs. Flexible workers are happy with the flexibility, but often have to wait a long time to be paid. It can take weeks after completing a shift for them to receive their pay.”

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