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PayPal Champions the Rise of the Freelancer in Southeast Asia

PayPal
2015-12-14 12:18 2696

SINGAPORE, Dec. 14, 2015 /PRNewswire/ -- At "Self Made", the Creative Workshop created by freelancers for freelancers; entrepreneurs and self-made practitioners of all stripes came together to celebrate the opportunities and discuss the unique challenges of the freelance economy in Asia. The allure of being a freelancer has never been greater, arising from the combination of the growth of digital platforms and the workforce evolution towards flexible working in a global marketplace. This has also awakened a self-starter spirit of independent makers in the creative and Internet arena.

Freelancers' Hierarchy of Needs
Freelancers' Hierarchy of Needs

The Asia Pacific region has a thriving freelance economy with Singapore leading the pack as the top market for freelance talent hire in Asia and a top 10 market for independent workers globally[1].  According to data released from a Southeast Asia freelancer jobs portal, India is at the forefront with 2,369,000 users and The Philippines as an upcoming market with 536,000 users. Other markets in the region are also active in the sphere with 412,000 users tracked in Indonesia; and 155,000 in Vietnam[2]; across industries including Graphic Design, Internet Marketing and Programming.

Understanding the freelancer psyche

Despite a flourishing community, the freelancer segment is still under-served and complex. A key concern is how payment can be made for work transacted online. In addition, while freelancers enjoy the flexible time and freedom to create and learn on their own terms, it can get lonely when they do not have the support of an organization behind them.

Rahul Shinghal, General Manager, Southeast Asia, PayPal, commented, "Freelancers are an important part of today's workforce. They add immense value to the global economy and provide high quality work at competitive rates, thereby leveling the playing field and making the world flatter. One of the biggest challenges faced by freelancers is getting paid on time, especially as their work typically transcends borders. This is where PayPal comes in -- by delivering peace of mind to freelancers with a payment platform that makes transacting faster, safer and easier so that they can focus on their craft. We have recently expanded our Seller Protection to include eligible services, which means that we help safeguard Freelancers against unscrupulous clients and unpaid invoices if they have delivered to their commitments."

Championing freelancers, PayPal ran a poll to understand freelancers' opportunities and challenges. Based on over 400,000 social engagements, PayPal commissioned a Freelancer's Hierarchy of Needs in partnership with graphic designer Janine Pring to voice the motivations of freelancers. Reliable Internet was highlighted as the most basic motivation, followed by Steady Pay, Meetups & Groups, Online Communities and Growth & Fulfilment.

Enabling the freelancer life

PayPal offers a hassle-free, agnostic platform not tied to any device so that they can connect and receive payments from clients all around the world. Freelancers also enjoy the ease of withdrawals without the need of credit card verification. On the backend, revenues are safeguarded with one of the most sophisticated fraud prevention engines in the world.

Armed with a robust freelance partner network and as part of enabling the freelance economy, PayPal will also reward freelancers who use PayPal and they will enjoy a 1% rebate up to US$30, if they receive eligible funds through PayPal[3].  

Celebrating freelancers at Self Made

At the "Self Made" event held at The Refinery, a creative workspace for creators, prominent freelancers, designer Jon Myers and tech entrepreneur Jon Yongfook, shared their freelance life journeys.

Jon Myers said, "Self-Made is laying the foundation for writing your life's script and is in line with my personal mission to change the world through design, connection and startups."

"Entrepreneurship is an exciting but also sobering experience and the Self Made event gives aspiring entrepreneurs a glimpse into they can expect if they embark on this route," concluded Jon Yongfook.

About Self Made

Self Made is PayPal's creative platform to celebrate what's great about being an independent maker in Southeast Asia, bringing together Freelancers from around the region to discuss opportunities and challenges. With the topics for discussion sourced through social posts, learn more about the opportunities and challenges from the perspective of freelancers. As of December 8, 2015; Self Made garnered 1.5 million social impressions and 400,000 social engagements. 

About PayPal

At PayPal (Nasdaq: PYPL), we put people at the center of everything we do. Founded in 1998, we continue to be at the forefront of the digital payments revolution, last year we processed 4 billion payments, of which 1 billion were made on mobile devices. PayPal gives people better ways to connect to their money and to each other, helping them safely access and move their money and offering a choice of how they would like to pay or be paid. With our 173 million active customer accounts, we have created an open and secure payments ecosystem that people and businesses choose to securely transact with each other online, in stores and on mobile devices. PayPal is a truly global payments platform that is available to people in 203 markets, allowing customers to get paid in more than 100 currencies, withdraw funds to their bank accounts in 57 currencies and hold balances in their PayPal accounts in 26 currencies. For more information on PayPal, visit https://www.paypal.com/about. For PYPL financial information visit investor.paypal-corp.com.

[1] 

2014 Global Online Work Report from Elance-oDesk

[2]

Data from Freelancer.com, August 2014: https://www.techinasia.com/philippines-freelancing-freelancer-com-competition-indonesia-india-vietnam/

[3]

Terms and conditions apply. Limited time only.

Media enquiry contact details:

Liru Chan
Head of Social Media & Merchant Communications, APAC
+65-6590-5563
lnchan@paypal.com

Yvette Yeo
Edelman Singapore
+65-6347-2355
PayPalMerchant@edelman.com

Photo - http://photos.prnasia.com/prnh/20151209/8521508387

Source: PayPal
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