Grubhub, PayPal, and Visa offer drivers augmented access to payments

Wednesday 15 June 2022 12:13 CET | News

US-based food delivery marketplace Grubhub has launched Instant Cashout via Direct to Debit, so drivers can immediately access their earnings.

The new payout option, enabled by Hyperwallet from Paypal and Visa Direct, Visa's real-time money movement network, offers more flexible access to earnings by allowing any driver with an eligible bank debit card to deposit their accrued earnings to their eligible debit or prepaid card.

Commenting on the news, PayPal’s officials stated that currently more than 95% of Grubhub transactions are processed by their enterprise offering Braintree, which includes added benefits such as high authorisation rates and low risk losses. The addition of payouts through Hyperwallet is a natural extension of their work together, helping drivers access their funds more quickly.

Instant Cashout via Direct to Debit is Grubhub's step to increase financial stability and flexibility for its drivers and is rolling out to all drivers throughout the month of June 2022. The company initially rolled out Instant Cashout, in partnership with Chase, in 2019, allowing drivers to instantly cash out available earnings straight to their bank accounts. More than 60% of drivers currently use Instant Cashout as their primary or partial means of getting funds, and drivers use the feature three times per week on average, according to Grubhub.

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Keywords: PayPal, Visa, delivery, product launch, instant payments, partnership
Categories: Payments & Commerce
Companies: Grubhub
Countries: United States
This article is part of category

Payments & Commerce


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