As the on-demand economy continues to grow, Visa offers flexibility and choice for workers to access funds earned in real-time
TORONTO, Feb. 2, 2020 /CNW/ - It is more important than ever for workers in the gig economy to have fast and easy access to their wages. In a recent Visa survey of gig workers, 70% said they would work additional shifts for quick money when needed if they could be paid in real-time1. Today, Visa announced a new offering with SkipTheDishes, Canada's most popular food delivery network, to enable real-time funds disbursement to their independently-contracted couriers across Canada. The new feature, called SkipTheDishes Fast Cash, is facilitated by Stripe's Instant Payouts product, made available through Stripe's financial institution partner and powered by Visa Direct, Visa's real-time push payments platform, and is now live and available to tens of thousands of SkipTheDishes couriers across Canada.
SkipTheDishes facilitates thousands of deliveries made by independent contractors each month from over 30,000 restaurant partners in Canada. Skip relies 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 couriers.
"Visa Direct's real-time funds disbursement capability allows funds to be available to individuals in minutes – including nights, weekends, and holidays – providing flexibility and choice for gig workers to access their earnings," said Brian Weiner, Vice President & Head of Product, Visa Canada. "Faster access to money is critical during this time, and Visa Direct is uniquely positioned to help companies like SkipTheDishes provide this unique offering."
Now with this new integration with Visa Direct, SkipTheDishes' independently-contracted couriers who are Visa cardholders will be able to use Stripe's Instant Payouts to gain real-time access to their earnings, as opposed to waiting seven days to receive payouts. By routing transactions through Visa Direct, SkipTheDishes can offer a quick, secure payment experience that sets them apart from competitors.
As a world leader in digital payments, Visa is committed to providing innovative payment solutions that can help on-demand economy businesses and workers meet specific payment challenges. The impact of the current COVID-19 pandemic on Canadians' finances can make it especially challenging to manage payments during this time. That's why Visa collaborates with valuable payment participants like Stripe, whose Instant Payouts feature uses Visa Direct to help businesses send money in real time to employees, contractors and service producers for wages, expenses and other business payment disbursements. In Visa's survey of gig workers, 89% said they would sign up for real-time payments, and 66% said they would select gig companies who offer real-time payments instead of others, showing how fast, on-demand payments can be a powerful tool for gig companies2.
For more information about how Visa Direct can help your business, visit Visa.com/VisaDirect.
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Actual fund availability depends on receiving financial institution and region. |
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This research was commissioned by Visa and conducted online by Directions Research, Inc. from Dec 5, 2019 to Jan 6, 2020. The 2326 respondents were on-demand workers, from the US, Canada, the UK, Ireland, France, Spain, Poland, Ukraine, Russia, South Africa, India, Singapore, Australia, Brazil, Peru and Colombia. |
About Visa Inc.
Visa Inc. (NYSE: V) is a world leader in digital payments. Our mission is to connect the world through the most innovative, reliable and secure payment network - enabling individuals, businesses and economies to thrive. Our advanced global processing network, VisaNet, provides secure and reliable payments around the world, and is capable of handling more than 65,000 transaction messages a second. Our relentless focus on innovation is a catalyst for the rapid growth of digital commerce on any device for everyone, everywhere. As the world moves from analog to digital, Visa is applying our brand, products, people, network and scale to reshape the future of commerce. For more information, visit visa.ca, usa.visa.com/visa-everywhere/blog.html and @VisaCA.
About SkipTheDishes
SkipTheDishes is part of Just Eat Takeaway.com, a leading global online food delivery marketplace. SkipTheDishes connects millions of customers with over 30,000 Restaurant Partners in Canada.
About Stripe
Stripe is a global technology company that builds economic infrastructure for the internet. Millions of businesses of every size—from new startups to public companies such as Salesforce, Shopify and Zoom Video Communications—use the company's software to accept payments and manage their businesses online. Over the long term, Stripe aims to increase the GDP of the internet. For more information, visit: stripe.com
SOURCE Visa Canada
Media Contacts: Melissa Vekil, Visa Canada, [email protected]
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