How do freelancers get paid? This question is a significant concern for anyone engaging in this sector. Perhaps evaluating these practices will partially assuage any concerns.
Providing local services precipitates the utilization of the most common cash transfer method in the country. Most freelancers receive payment through M-Pesa. However, the method has some shortcomings, including concerns that people could reverse their transactions.
Freelancers get paid using escrow accounts. Notably, there are companies that deal entirely with this service. The organizations hold funds in escrow, pending service delivery and confirmation of validity. However, freelancers and service recipients may also engage in individual arrangements to provide such services. Despite this possibility, you must remain cautious as some clients/ freelancers are usually in cahoots to swindle fund recipients/ dispensers in the pretext of escrow arrangements.
Freelancers providing global services find it easier to embrace global compensation platforms. Notably, these options include Payoneer, Paypal, or Skrill, among others.
Unconventional transactions employ cash exchanges. Some freelancers will deliver the complete service and receive cash compensation immediately. For instance, people delivering a specific software could just exchange the drive for cash. The method is simple, but it is also dangerous and exacerbates the risk of consequent robberies.
Times are changing and this transformation will accompany shifts in payment methods. Hence, keep an eye out for the potential that comes your way. You do not have to always stick with one, but ensure an awareness of the negative and positive implications of each alternative.