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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1
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Actual fund
availability depends on receiving financial institution and
region.
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2
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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.
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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