San Francisco, CA; June 14, 2016 – Workforce solutions leader CXC Global™ and fintech pioneer Qwil have announced a formal partnership to provide instant access to compensation for CXC Global’s contractors through the Qwil app. The collaboration commences today in the United States and Canada with plans for global expansion.
This important partnership solves the number one pain point faced by self-employed, freelance, independent, and gig economy contractors – today’s fastest growing segment of the labor force – which is easy and immediate cash flow. Every year, over $1 trillion U.S. dollars of contractor income is locked up by companies’ 30, 60 or 90 day invoicing cycles. Through just one tap in Qwil’s mobile app, CXC Global’s self-employed workforce can cash out their unpaid compensation, either directly loading money onto Qwil’s prepaid debit card or sending to their bank account for next business day arrival.
“We are very excited to be partnering with Qwil to deliver faster compensation for our growing number of fully vetted self-employed, freelance and independent contractors,” said John Smith, managing director – Americas, CXC Global, “Innovation is rapidly transforming the work landscape, and as a leading provider of compliant contingent workforce solutions, we are committed to offering agile solutions to meet the demands of today’s expansive economy and the workers powering it.”
“Our mission is to ensure that self-employed contractors do not suffer the serious financial hardships caused by protracted invoicing cycles,” said Johnny Reinsch, CEO of Qwil. “With recent findings revealing that there are over 50 million self-employed contractors currently in the U.S. alone, and with projections for rapid growth, we are dedicated to providing direct payment when and where needed. We look forward to working with a leader in the space such as CXC Global, so that together we can drastically improve the livelihood and lives of this rapidly growing segment of the global workforce.”
About CXC Global™
CXC Global™ is a leading Contractor Management Organization (CMO) supplying global payroll and compliance solutions assisting corporations and human capital organizations with the compliant engagement of their global contingent workforce. CXC Global has been operating in the contractor management industry for more than 24 years and have a wealth of experience to draw upon. CXC Global operates in more than 65 countries worldwide, working out of more than 30 local offices spread across the globe. With an unmatched suite of managed services for employers, contractors and recruiters CXC Global takes care of all administration associated with contractor management, payroll and compliance. We help thousands of organizations and individual contractors decrease costs and increase profits by providing innovative contractor management, compliance, payroll and remuneration solutions, risk mitigation and salary packaging. Today, CXC Global™ continues to lead the way with the development of new technologies and initiatives enabling both corporations and individual consultants to adapt in today’s high performance work environment.
About Qwil, a Public Benefit Corporation
Qwil is a public benefit corporation based in San Francisco, California and is dedicated to helping independent contractors get paid as quickly as possible. Qwil’s payments platform provides companies with the flexibility to make payments to their contractors on the invoice cycle of the company’s choice while giving their independent contractors access to earnings instantly before the close of the invoice cycle. To learn more, visit: www.qwil.co