Visa Canada, DoorDash push real-time payments


Visa on Wednesday (March 23) announced DoorDash Fast Pay, a new feature that is part of its collaboration with the DoorDash delivery platform that enables faster payments to drivers across Canada, according to a joint press release.

DoorDash Fast Pay is powered by Stripe’s instant payments portal and Visa Direct, Visa’s real-time push payment platform. It is launched to meet the needs of short-term entrepreneurs, with one in 10 adult Canadians identifying as an independent contractor.

Visa’s survey of gig workers showed nearly nine in 10 (89%) said they were likely to sign up for real-time payments, and two-thirds (66%) said that they would choose gig companies that offer real-time payments. payments rather than others.

“Increasingly, independent contractors want to be paid on their own terms,” said Jim Filice, Vice President and Head of New Payments at Visa Canada. “Access to real-time earned wages is an expectation for many workers, and companies like DoorDash are helping to meet that demand by leveraging Visa’s network and implementing solutions like Fast Pay.”

DoorDash uses Instant Payouts with Stripe Connect in the US and Canada, to allow Dashers to accept payments and direct them to their debit cards or bank accounts and to help businesses create a platform for purchases and payments between third-party buyers and sellers.

Shilpa Arora, Managing Director of DoorDash Canada, called the collaboration “a big step forward in introducing new tools to empower Dashers who rely on DoorDash for reliable, independent, flexible work and extra income” in the release. Press.

Related: How DoorDash Delivers Faster Payments for Gig Workers

DoorDash couriers normally receive weekly paychecks, but under the Fast Pay program, US couriers can cash out their current earnings once a day for a $1.99 fee. Funds are not deposited directly into workers’ bank accounts, but rather into their debit cards.

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