DoorDash (NYSE: DASH) and Payfare (TSX: PAY) announced instant income access for DoorDash delivery drivers across the United States through DasherDirect. DasherDirect is a financial platform and digital banking solution for Dashers powered by Payfare.
Thanks to DasherDirect, Dasher’s have access to automatic, no-charge payments after each dash, in direct response to Dasher’s comments calling for faster access to their income.
DasherDirect offers Dashers a professional prepaid Visa card and mobile banking app along with convenient, free digital banking services and exclusive rewards, including 2% cash back on every gasoline purchase. The DasherDirect card also gives Dashers greater flexibility and control over their income, all with no minimum account balance requirements or monthly fees, and can be used anywhere Visa is accepted.
Following an initial pilot in select markets for DasherDirect cardholders, early adopters have reported that âMoney After Every Rideâ is a resounding success.
âI run full time and use the money right away,â said Carmelita P., a Dasher. âInstant pay makes me want to earn more. Before it was a few hours here and there. Now I think, âI have to get to work! I love to run now.
With no prior credit check or bank account required to enroll, DasherDirect gives Dashers access to secure, quality digital banking on the go, including free withdrawals at over 20,000 ATMs nationwide. DasherDirect also offers free money transfers with no minimums, the ability to set savings goals and now income available in their DasherDirect account within minutes of each dash.
âWith the nationwide rollout of DasherDirect, we are providing Dashers with greater economic security and financial autonomy by instantly remitting wages earned after each dash,â said Tony Xu, CEO and Co-Founder of DoorDash. “We are listening to the Dashers, who want faster and more flexible access to their income and are delighted to have made this meaningful program available to all Dashers in the United States.”
âWe are extremely pleased with the early success and adoption of DasherDirect and our powerful partnership with DoorDash,â commented Marco Margiotta, Payfare CEO and Founding Partner. âWe look forward to delivering continuous innovation and value to improve the daily lives of Dashers around the world. “
The DasherDirect app is available for iOS and Android mobile users on the Apple App Store and the Google Play Store. The DasherDirect Business Visa Prepaid Card is issued by Stride Bank, NA, FDIC member, pursuant to a license from Visa USA Inc, and is subject to eligibility.