GigPay provides a payment platform that allows businesses to instantly send payments to an unlimited number of payees using a simple CSV file upload, eliminating transaction fees and delays. The service enables recipients to access funds directly through the GigPay app, facilitating seamless transfers to bank accounts or cash pickups globally.
Funding
$3.2M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Businesses often face challenges in efficiently disbursing payments to large numbers of recipients, especially when dealing with international payees or individuals without traditional bank accounts. Existing payment methods can involve transaction fees, processing delays, and complex reconciliation processes.
Solution
GigPay offers a platform designed to streamline mass payouts to various types of payees, such as gig workers, royalty recipients, and vendors. The service allows businesses to upload a CSV file containing payee details and payment amounts, enabling instant and free disbursement of funds. Recipients receive payments directly into their GigPay app, where they can then transfer the funds to a bank account, send domestic or international wires, or arrange for cash pickup at various locations worldwide.
Target Audience
The primary target audience includes businesses that regularly make payments to a large number of individuals, such as companies paying royalties, commissions, dividends, or managing gig worker payouts.
Features
- Mass payment disbursement via CSV file upload
- Instant and free payments to an unlimited number of payees
- Recipient access to funds through the GigPay mobile app
- Options for recipients to transfer funds to bank accounts, send wires, or pick up cash
- Global cash pickup network with over 17,000 locations
- Peer-to-peer money transfer functionality within the GigPay app
- SMS/Email notifications to payees upon payment