New payment types and form factors are finding viable use cases in the gig economy. Yahoo! Finance noted that drivers for Grubhub now have the opportunity to get paid immediately after each delivery. PayPal has been front and center to bring this use case to life. Braintree (PayPal) is the gateway for the buyer transaction, and Hyperwallet (also PayPal) is the platform that is offering near-instant cash outs using the Visa Direct network. Here is more from the article:
Grubhub, a leading food ordering and delivery marketplace, today announced the launch of Instant Cashout via Direct to Debit, which drivers can use to 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.
“Cashing out is one of the most important features to Grubhub’s drivers, and we are constantly innovating to deliver the best possible experience,” said Mrugesh Bavda, product manager for Grubhub. “Direct to Debit will expand the ways our drivers can immediately and reliably access the income they generate on our platform, while maintaining the flexibility and independence that they appreciate from Grubhub.”
Direct to Debit is powered by Hyperwallet, a payout management platform managed by PayPal, which in turn uses Visa Direct to deposit those payments to bank debit cards.
Overview by Sarah Grotta, Director, Debit and Alternative Products Advisory Service at Mercator Advisory Group
