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Gopuff partners with Stripe and Visa Direct to launch instant cash out

Friday 5 August 2022 12:21 CET | News

Gopuff, a US-based delivery firm, has partnered with Stripe, a financial infrastructure platform for business, and Visa Direct, to offer its partners with an eligible debit card the option to cash out quicker.

Gopuff is now providing its US delivery partners with the ability to instantly cash out their earnings balance at any time with just a few clicks, offering an instant pay option for delivery partners, bringing them a more flexible, convenient, and quick way to receive their earnings and tips.

Gopuff, a delivery firm, partners with Stripe and Visa Direct to offer its partners with an eligible debit card the option to cash out quicker.

The idea for instant cash out came from the drivers themselves, as the official said. Gopuff’s tech team updated its pay systems to be able to integrate with Stripe and had been working with the fintech platform since March 2022. In May 2022, the company rolled out payments by about two to three days faster than its former weekly cadence.

Instant Cash Out is part of a broader series of investments Gopuff is making to improve the delivery partner experience.

Gopuff’s strategy of improvement

As part of the company’s aim to improving the delivery partner experience, Gopuff has:

  • Improved Delivery Partner Support: in the last 12 months, Gopuff increased the size of its delivery partner support team, enabling the business to provide quick responses and solutions to delivery partners’ questions. Gopuff also introduced a new in-app chat feature to make it even easier for delivery partners to connect with a support agent.

  • Invested in the Driver App: launched in the App Store and Google Play Store, the new app improves the delivery experience, makes it easier and faster for new partners to access the platform, and enables automatic app updates for existing users.

  • Faster Payouts and Greater Earnings Transparency: Gopuff launched a redesigned Earnings tab in the Gopuff Driver app, making earnings information more transparent and digestible.

  • Expanded Cash-Back Promotions: In US, Gopuff partnered with Upside to offer delivery partners exclusive promotions at more than 50,000 businesses, including cash back opportunities at gas stations, restaurants, and grocery stores. In the UK, Gopuff partnered with Collective Benefits to offer discounted fuel options and deals to help save money on everyday expenses.

Gopuff also recently launched perks such as vehicle maintenance discounts through Openbay, credit and discount opportunities on tax services through Block Advisors, and expense & mileage tracking through Stride.

Gopuff layoffs

The announcement comes almost one month after Gopuff cut down 10% of its global workforce and closed dozens of warehouses, reining in spending following signs the delivery company expanded too quickly during the pandemic.

The job reductions will affect about 1,500 staff members, a mix of corporate and warehouse employees in the US. It’s the second time in four months the embattled startup has eliminated positions. It cut about 3% of jobs in March 2022 and shelved plans to go public.

The current cuts are an effort to help the company be profitable by 2024, as mentioned by Bloomberg.

In 2021, Gopuff was valued at USD 15 billion. The company had reportedly been eyeing a 2022 public listing but has since put those plans on hold amid a broader slowdown in market debuts.


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Keywords: product launch, cash, delivery, partnership, debit card
Categories: Payments & Commerce
Companies: Gopuff, Stripe, Visa
Countries: United States
This article is part of category

Payments & Commerce

Gopuff

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Stripe

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Visa

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