Let’s face it—money talks, but nothing talks more loudly than receiving your hard-earned money immediately. Stripe’s new Instant Payouts feature, powered by Visa Direct, ensures that businesses can send money instantly to employees, contractors and service providers for wages, expenses and other business payment disbursements.
Marketplaces already sending payments using Stripe’s Instant Payouts feature include:
- Lyft: Stripe Instant Payouts powers the Express Pay feature which allows drivers to quickly cash out.
- Care.com: Whether it’s a caregiver for children or seniors or a housekeeper hired on Care.com, families can now pay in real time, enabling caregivers to receive payment for services faster than ever.
- goPanache: Beauticians and barbers can receive payment from clients immediately.
The Visa Direct platform gives businesses and consumers the ability to transfer funds within minutes to and from more than 200 million Visa debit cards in the United States. It can also be used with non-Visa debit cards by transferring them into the customer’s bank account linked to their debit card without the need for account number and routing code details. Visa propels business by allowing customers to tap, click, dip, swipe, send and receive payments in a way that fits with everyday life.
“We’ve worked closely with our partners, including Visa, to launch Instant Payouts,” said Billy Alvarado, Chief Business Officer at Stripe. “Millions of people drive, deliver, provide healthcare or otherwise sell on marketplaces using Stripe. Whether they’re earning a living full-time or doing part-time work, for these people, getting paid a few days faster is a big help.”
Stripe Instant Payouts, powered by Visa Direct, is now available to marketplaces in the U.S. Stripe Instant Payouts join a growing list of innovative companies or partnerships around the globe using Visa Direct, including Ingo Money, Square, TD Bank, Early Warning, Fiserv and PayPal.