Digital financial technology provider Wirecard has partnered with gig economy startup Moonrise to offer a free same-day payment option for its workers.
Moonrise connects individuals with shift work in administration, hospitality, and other services to supplement their income. The payment card provided by Wirecard enables workers to access the money they have earned within 24 hours of completing an assignment without charging fees to workers. Loyalty rewards and other value-add features will be built into the program as the company grows.
Moonrise, a wholly owned subsidiary of American Family Insurance, was formed when American Family’s innovation team set out to better understand a subset of their policyholders who are looking to supplement their income. American Family wanted to discover how the company could leverage its customers, partner relationships and capital. Moonrise brokers with employers and pushes their available gigs via text messages to vetted workers who match the gig’s qualifications.
“Wirecard is one of the main drivers of the digitalization of payments – as the nature of work is evolving, digital and real-time payments are adapting to meet the market’s needs,” said Deirdre Ives, Wirecard North America Managing Director. “We are proud to facilitate workers’ fast, easy access to their pay. Having a same-day payment option gives individuals greater control over their finances, and partnering with Moonrise to offer this service aligns perfectly with our core value of offering consumers flexible and secure solutions for cashless payments.”
“For employers, tapping into a reliable on-demand workforce can be game-changing,” said Kara Kaplan, Moonrise’s co-founder and CEO. “For workers, the ability to accept a shift here or there can be the factor that enables them to take control of their finances. Wirecard has been one of our best partnerships.
“It was easy to implement the program because they understood what we were trying to do, and we felt right away that our mission was resonating with them.”