New payment types and form factors are finding viable use cases in the gig economy. Yahoo! Finance noted that Grubhub drivers now have the option of being paid immediately after each delivery. PayPal has been at the forefront of bringing this use case to life. Braintree (PayPal) is the gateway for the buyer’s transaction, and Hyperwallet (also PayPal) is the platform that offers near-instant withdrawals 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 access their earnings immediately. The new payment option, enabled by Paypal’s Hyperwallet and Visa Direct – Visa’s real-time money movement network – provides more flexible access to earnings by allowing any driver with an eligible bank debit card to deposit their accumulated earnings on their eligible debit or prepaid card. .
“Collection is one of the most important features for Grubhub drivers, and we are constantly innovating to provide 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 revenue they generate on our platform, while retaining the flexibility and independence they enjoy from Grubhub.
Direct to Debit is powered by Hyperwallet, a payment management platform operated by PayPal, which in turn uses Visa Direct to deposit these payments into bank debit cards.
Preview by Sarah CaveDirector, Debit and Alternative Products Advisory Services at Mercator Advisory Group