We’re excited to share with you our Gig Payment Solution to help technology platforms modernize outdated wage payment methods, add revenue sources from payments, and empower their client’s workforce.

Gig Payment Solution – What is It?

Our Gig Payment Solution offers embedded payments to technology platforms looking to enable their clients to pay workers with instant, digital solutions. We reduce the amount of hours that your clients have to spend on expensive old-school payroll processes and we empower their workers with faster pay and digital banking. 

Our solution accomplishes this by providing:

  • KYC and user verification tools to securely onboard workers and get them using your product faster.
  • Debit Cards and FDIC Insured Accounts that provide the medium for workers to get paid and use their funds whenever and wherever.
  • Real-Time Payments and Transfers to pay workers commissions, tips. reimbursements, pensions, or 1099 contractor payments whenever they earn them, all in real-time.

Who is This For?

Berkeley’s Gig Payment Solution can add value to companies in the following business types:

  • Payroll Platforms
  • Workforce Management Platforms
  • Prepaid Card Providers
  • Payment Processing Companies
  • Payroll Platforms
  • Point-of-Sale Platforms
  • Gig-Economy Platforms
  • Temporary Work Agencies

How We Modernize Gig Payments

Our Gig Payment Solution offers your clients complete control over the entire payment process from one centralized place. 

 

KYC and User Identification

Your platform’s clients no longer have manually onboard employees to payroll, make trips to the bank to get cash outs, or spend time and money on issuing paper checks.

 

Real-Time Payments

We provide a cost-effective way to move money faster. Contractor payments, freelance payments, tips, gratuities, expenses, mileage, and commissions can be paid to employees instantly, saving business owners and HR administrators time from dealing with outdated payment methods. It also reduces the cost of capital by eliminating the need to front the money.


Debit Cards

Our solution reduces the overall cost of payments. Prepaid debit cards are an inexpensive alternative distribution method to issuing cheques or ACH. Additionally, prepaid debit cards lower the amount of fraud and loss risk involved in using cheques.

Prepaid debit cards can be branded with your client’s colors, logo, and messaging, and can be personalized with the cardholder’s name. This provides a connected experience to the offering, and they never have to leave your platform’s experience.

Clients on your platform get the edge they need to compete in the marketplace in order to attract new employees and retain their current ones.

How We Help You Add Revenue From Payments

Every time your cardholders swipe their reloadable prepaid card, your business can receive up to 75 BPS cash back in revenue (do we want to put this out there? We never offer 75bps back, we only earn 100bps, but normally we dont offer revenue share unless they are huge). This cash back comes from the interchange fee that is charged to businesses on credit card transactions. If your business held 50,000 accounts, this would translate to over $3.3MM in annual revenue from interchange alone.


Prepaid debit cards act just as a bank account would, which opens the potential for value-added financial services like loans or lines of credit that can add additional sources of revenue for your business.

How We Empower Your Client’s Workforce – Example: Point-of-Sale Platform

Let’s illustrate the value of Berkeley’s Gig Payment Solution in action by comparing it to traditional methods of disbursing compensation like tips. For this example, we will show how a Point-of-Sale Platform could embed our technology to improve their client’s gig payments..

In most restaurants digital payments are used, yet tips are ‘cashed out’. So restaurant owners must run to the bank to get cash, to tip out their servers. Which is both annoying and unnecessary.

Even if tips are not provided to servers daily, tips accumulate in the restaurant’s accounts payable – causing cash flow issues that are hard to manage. And Servers? Well, they need their tips as soon as they earn them. What if your system could offer users the ability to digitally pay tips to servers onto payment cards instantly?

Well, by using Berkeley’s Gig Payment Solution:

  1. A server ends their shift and their tip total is calculated by the POS system.
  2. The manager will confirm the total.
  3. Once confirmed, the tip total is sent via API from the POS application to Berkeley’s system. 
  4. Berkeley’s system fulfills the payment by loading funds to the server’s prepaid debit card.
  5. The funds are available instantly, and the server can use them immediately.

This means:

  • There’s no need to run to the bank to get cash,
  • The server receives their tips instantly after each shift,
  • Accounts payable cash flow issues are solved,
  • And it’s all easy to manage from one single place.

To make it even better – All cards are branded and personalized for each server, making them feel more a part of the restaurant.

Why Choose Berkeley, and Not Just Build a Solution On My Own?

Why not just build something like this yourself? I mean, offering something this sweet and simpler to your users should be simple right?


Well, to build an instant wage payout solution without Berkeley’s Gig Payment Solution:

  • You would need to pass stringent bank and vendor qualifications.
  • It would take over a year of set up time to implement due to compliance, security, and legal agreements. 
  • Not to mention the millions of dollars of development investment and dozens of banking, manufacturer, and processor relationships and contracts. 

The Berkeley Payments Platform provides a single integration point to access to payments vendors and capabilities you would need to build a wage payment solution, without the massive upfront costs and time it would take to do without us. 

Building with With Berkeley’s Gig Payment Solution:

  • We can get your program up and running in just a matter of a few months with a single integration. 
  • We do all of the heavy lifting for you in terms of development, implementation, and integration. 
  • We have revenue share, so our relationship with your business is a win-win. We are dedicated to continuous development, with a wide array of existing solutions, so your business can scale with us as your needs change and adapt.

Signing a contract with us is like taking a time machine during your product build. Allow us to take on all of the payments responsibilities, while you focus on your core competencies like branding and service to your customers. Consider Berkeley Payments as your payments partner in delivering innovative wage payment solutions.

Interested in Setting up a Gig Payments Solution for Your Business?

Berkeley’s payments-as-a-service platform enables all of the financial services capabilities you need to issue cards, transfer funds, and load accounts – all in real-time.

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