When you ask gig workers what they want, the number one answer is usually: more pay! While that can be a difficult proposition for gig companies seeking profitability, what if I told you it’s possible – and wouldn’t cost a dime?
In this episode, I chat with David Metz, the CEO of Prizeout. Prizeout is a digital marketplace that allows people to withdraw funds online with an added premium if they shop at thousands of restaurants and retailers. Gig companies have been reaching out during the pandemic, looking to work with Prizeout to get their gig workers more money. We’ll break down how it all works below.
Listen to this episode on your phone here.
Intro to David Metz
- Founder and CEO of Prizeout
- Career entrepreneur
- People like free stuff!
- Prizeout started with a betting trivia company
How Prizeout Works
- Prizeout is a withdraw app – need to cash out?
- Could cash out for money, or gift cards
- Companies obviously want to acquire you as a customer, so they add an incentive for you to cash out with their gift card
- Merchants compete against each other to get your business, and offer you an incentive (bonus on your gift card amount)
How Are People Using Prizeout?
- Many people are not cashing out their full earnings use Prizeout
- Can choose how much to cash out for gift cards with Prizeout
- Most popular categories? Gas, restaurants, Amazon gift cards
- Prizeout has created an ecosystem where everyone is a winner (including companies!)
How Does Prizeout Help Gig Workers Make More Money?
- If the company you work with doesn’t offer it, you can’t directly access it
- Right now, Uber doesn’t allow drivers to use Prizeout to cash out – but they might!
- If you’re on other gig apps, see if you can cash out with Prizeout!
- You’ll get a premium on the gift card you cash out with, so it’s additional money!
Outro
- Big thanks to David for coming on the podcast!
