STAMFORD, Conn — Point Pickup Technologies, the enterprise-grade last-mile fulfillment and delivery provider that returns customer control to retailers, announced today that it is launching GigPoint, a one-of-its-kind platform intended to help the ever-expanding network of gig workers better manage crucial aspects of their work and lives with job-based rewards and vital services such as banking and insurance. Future iterations of GigPoint will introduce new job support benefits along with greater community-building tools.
The initial GigPoint release, to be used for an invitation-only focus group, is available today, and will ultimately be available to all flex workers, including shoppers and drivers, both via the Point Pickup flex worker app or as a downloadable standalone app.
The three services available at launch are rewards, banking, and insurance. By completing successful orders through Point Pickup, flex workers will earn points that they can then exchange for rewards like cash bonuses, vacations, service and product discounts, and other perks. Through PointTrust (in partnership with Sutton Bank, Member FDIC), flex workers can manage their finances effectively without worrying about overdraft or monthly fees. They can also purchase multiple affordable insurance packages, including health, dental, and vision benefits through GigPoint.
“From day one, our flex workers have been the heartbeat of our company. But we’ve recognized that the gig economy is becoming too fractured to be sustainable in the long term, and access to better care benefits for our workers is more necessary than ever,” said Tom Fiorita, CEO of Point Pickup. “This first phase of GigPoint will help our network of more than 350,000 Flex Workers build more successful businesses which will translate into happier and more fulfilling lives. We are looking toward the future of the gig economy by not accepting the status quo and building a care economy in its place.”
The initial features provided by GigPoint are linked to an internal retention and job motivation study conducted by Point Pickup to identify top work-benefit priorities for its flex workers. An easy-to-use loyalty program with instant access to rewards was rated as the number one request.
The latest research note published by Barclays US Internet and North American Transportation senior analysts Ross Sandler and Brandon Oglenski, “Gig Last Mile Delivery vs. AMZN – The Next Battleground?”, indicates that the size of the gig economy workforce is likely to more than double by 2025, from approximately 7 million to over 14 million1. In addition, these same gig workers are estimated to be over half of delivery personnel by 2025, with same-day delivery expected to take 16% of the US package market. However, addressing the needs of the growing gig workforce will be paramount to meeting the potential for the last-mile industry.
After the beta program is completed, the first release will launch to Point Pickup’s flex workers later this fall. Future iterations will expand to the general gig ecosystem, with the intent of building a more open and transparent gig environment, as well as implementing additional features.
To learn more about GigPoint, please visit http://www.pointpickup.com/gigpoint.
