Visa and Postmates partner on instant payouts

Monday 8 October 2018 11:13 CET | News

Visa has announced an agreement with Postmates, the on-demand delivery network, to enable real-time funds disbursement to their entire fleet.

This new feature, called Postmates “Instant Deposits,” is facilitated by Stripe’s Instant Payouts feature, running on Visa Direct, Visa’s real-time push payments platform, and is now live and available to the Postmates fleet of more than 200,000 in the US.

Visa reported since launch in 2011, Postmates has relied on Stripe Connect, Stripe’s product for multi-sided marketplaces, to handle all aspects of the payments experience, including accepting payments from customers and sending payments to “postmates.”

Now with this new agreement for Visa Direct, “postmates” who are Visa cardholders will be able to use Stripe Instant Payouts to gain real-time access to their earnings, as opposed to waiting 4-7 business days to receive payouts.

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Keywords: Visa, real-time funds, disbursement. Postmates, Instant Payouts, Stripe, payments
Countries: World