According to PYMNTS.com, the line between payments provider and platform operator is blurring dramatically, with 65% of businesses surveyed showing strong interest in using in-network accounts or cards for payouts like payroll and vendor invoices. The numbers get even more striking in the platform economy—87% of platform-based businesses want to pay gig workers directly through their own financial rails, while 75% of merchants and marketplaces want to pay suppliers in-house rather than through third-party accounts. This shift goes beyond cost savings or faster payments and represents something more fundamental: control. For decades, companies lost visibility once payments left their systems, but now they’re realizing that every disbursement that stays within their ecosystem becomes a gateway to higher customer lifetime value. The research suggests we’re witnessing a fundamental rethinking of what payments represent in the digital economy.
<h2 id="why-platforms-want-your-money”>Why Platforms Want Your Money
Here’s the thing: when a platform pays you through your regular bank account, they’re basically handing you off to another financial institution. They lose visibility into what happens next—do you spend it immediately? Save it? Transfer it elsewhere? More importantly, they lose the chance to offer you financial products right when you need them. Think about it: if you’re a gig worker getting paid instantly through a platform-branded account, wouldn’t you be more likely to use their cash advance feature or savings tool? That’s the real prize here. It’s not just about processing payments—it’s about owning the entire financial relationship.
The Gig Economy Leads the Charge
Gig platforms understand this better than anyone. When 87% of them say they want to pay workers directly through their own networks, they’re acknowledging something crucial: the entity that pays you first wins your trust. And probably your wallet share too. These platforms already have workers checking their apps multiple times daily for earnings updates and new gigs. Why send them elsewhere for their money? Keeping payouts in-house turns the earnings tab into a financial hub—cash advances, savings tools, even insurance products can live right where the money lands. It’s a smarter business model, frankly.
You Don’t Need to Be a Bank
The beautiful part? Companies don’t need to become full-blown banks to pull this off. Banking-as-a-service and embedded finance platforms have made it incredibly easy to spin up virtual accounts, payment cards, or wallets without the regulatory headache. Providers like Ingo Payments specialize in handling the compliance and risk monitoring at scale. So a marketplace can offer working capital to sellers without ever calling itself a bank. A gig platform can provide cash advances without dealing with banking charters. The financial infrastructure becomes invisible—just another feature in the app.
What This Means For Users
For users, this changes everything without feeling like banking. That checkout button on your favorite marketplace? It could become your gateway to a credit line. The earnings section of your gig app? Suddenly it’s offering instant cash advances. Your rewards wallet? Now it’s a spending account with a virtual card. Nothing screams “bank” but everything works like financial infrastructure. The question is whether users will embrace this convenience or feel trapped by platform-controlled finances. After all, when your paycheck, your credit, and your spending tools all live in one app, how easy is it to leave?
