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The gig economy seems to be here to stay. In the U.S. alone, there are more than 70.4 million freelancers, and that number has been growing for the past few years. By 2028, it is projected that there will be upwards of 90 million gig workers who will constitute close to 50% of the domestic population. Internationally, as well, the gig economy is also growing. One of the major draws of freelance work is the flexibility and freedom it enables and promotes. The rise of freelance and project or gig-based work has allowed individuals to tailor their schedules and income to their lifestyles and preferences.

The increase in this type of work is driving evolution in various areas, including how employers are paying their contractors. At the core of the gig economy, workers value freedom, flexibility and more intentional use of their earnings. A survey revealed that 46% of gig workers take on gig work to increase their income, but it goes beyond mere financial gain. They strive to be intentional with their money. As a result, many companies both gig and non-gig are being compelled to change their traditional payroll processes. When searching for gig work, 51% of gig workers prioritize compensation and payment-related factors, such as the frequency of pay, payment methods and payment security. This emphasis on the way they are paid highlights the increasing importance of adaptable payment solutions in the evolving gig economy.

Before the gig economy took off, the original gig was what is today known as the direct selling industry; this is where PayQuickers origin story began. Today, they have become a global financial technology company that caters to businesses of all sizes across various industries. With its award-winning solutions, PayQuicker caters to over 300 clients, enabling businesses of any size to provide immediate global payouts in local currencies through secure bank accounts, prepaid debit cards, virtual cards and mobile wallets.

Companies can utilize the Payouts OS platform to streamline payouts to over 200 countries and territories, supporting more than 100 currencies which is especially useful to freelancers who may work with international companies. PayQuicker facilitates millions of payments and billions of dollars annually, consistently empowering companies to foster growth by equipping them with superior payment options and enhancing the purchasing power of their gig workforce.

Recently, PayQuicker unveiled its Deals and Offers program for all U.S. account holders, introducing a range of new partners. This initiative allows PayQuicker's account holders to access exclusive deals on retail, travel, dining and more. Moreover, the Deals and Offers portal also provides access to health insurance and financial wellness services, which is particularly beneficial for independent workers who are underbanked or unbanked and traditionally lack such opportunities.

Speaking on being selected as a finalist in their category in the Benzinga Fintech Awards 2023, Paul Beldham, CEO of PayQuicker, shared, It is an honor to be recognized as a finalist in the category of Best Payments Solution. Were constantly striving to bring the best payout experiences to our clients and their global workforces, which serves as an advantage at a time when attracting and retaining gig workers is becoming increasingly competitive. The way in which people work is changing, and so too is the way they expect to be paid. This recognition is a testament to our continued commitment to understanding payees needs and innovating best-in-class payment solutions.

As the gig economy continues to grow and evolve, financial institutions will need to cater to the unique needs of these workers. Companies like PayQuicker will be instrumental in facilitating the continued success of the gig economy.

Featured photo by Viktor Avdeev on Unsplash.

This post contains sponsored content. This content is for informational purposes only and is not intended to be investing advice.

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Technology

Super Micro plans to ramp up manufacturing in Europe to capitalize on AI demand

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Super Micro plans to ramp up manufacturing in Europe to capitalize on AI demand

CEO of Supermicro Charles Liang speaks during the Reuters NEXT conference in New York City, U.S., December 10, 2024. 

Mike Segar | Reuters

PARIS — Super Micro plans to increase its investment in Europe, including ramping up manufacturing of its AI servers in the region, CEO Charles Liang told CNBC in an interview that aired on Wednesday.

The company sells servers which are packed with Nvidia chips and are key for training and implementing huge AI models. It has manufacturing facilities in the Netherlands, but could expand to other places.

“But because the demand in Europe is growing very fast, so I already decided, indeed, [there’s] already a plan to invest more in Europe, including manufacturing,” Liang told CNBC at the Raise Summit in Paris, France.

“The demand is global, and the demand will continue to improve in [the] next many years,” Liang added.

Liang’s comments come less than a month after Nvidia CEO Jensen Huang visited various parts of Europe, signing infrastructure deals and urging the region to ramp up its computing capacity.

Growth to be ‘strong’

Super Micro rode the growth wave after OpenAI’s ChatGPT boom boosted demand for Nvidia’s chips, which underpin big AI models. The server maker’s stock hit a record high in March 2024. However, the stock is around 60% off that all-time high over concerns about its accounting and financial reporting. But the company in February filed its delayed financial report for its 2024 fiscal year, assuaging those fears.

In May, the company reported weaker-than-expected guidance for the current quarter, raising concerns about demand for its product.

However, Liang dismissed those fears. “Our growth rate continues to be strong, because we continue to grow our fundamental technology, and we [are] also expanding our business scope,” Liang said.

“So the room … to grow will be still very tremendous, very big.”

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Politics

US sanctions North Korean tech worker crew over crypto thefts

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US sanctions North Korean tech worker crew over crypto thefts

US sanctions North Korean tech worker crew over crypto thefts

TRM Labs said North Korea is moving away from hacks to focus more on deception-based revenue generation, such as planting IT workers in US companies.

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Environment

China overhauls EV charging: 100,000 ultra-fast public stations by 2027

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China overhauls EV charging: 100,000 ultra-fast public stations by 2027

China just laid out a plan to roll out over 100,000 ultra-fast EV charging stations by 2027 – and they’ll all be open to the public.

The National Development and Reform Commission’s (NDRC) joint notice, issued on Monday, asks local authorities to put together construction plans for highway service areas and prioritize the ones that see 40% or more usage during holiday travel rushes.

The NDRC notes that China’s ultra-fast EV charging infrastructure needs upgrading as more 800V EVs hit the road. Those high-voltage platforms can handle super-fast charging in as little as 10 to 30 minutes, but only if the charging hardware is up to speed.

China had 31.4 million EVs on the road at the end of 2024 – nearly 9% of the country’s total vehicle fleet. But charging access is still catching up. As of May 2025, there were 14.4 million charging points, or roughly 1 for every 2.2 EVs.

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To keep the grid running smoothly, China wants new chargers to be smart, with dynamic pricing to incentivize off-peak charging and solar and storage to power the charging stations.

To make the business side work, the government is pushing for 10-year leases for charging station operators, and it’s backing the buildout with local government bonds.

The NDRC emphasized that the DC fast chargers built will be open to the public. This is a big deal because a lot of fast chargers in China aren’t. For example, BYD’s new megawatt chargers aren’t open to third-party vehicles.

As of September 2024, China had expanded its charging infrastructure to 11.4 million EV chargers, but only 3.3 million were public.

Read more: California now has nearly 50% more EV chargers than gas nozzles


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