Instant Cashout via Direct to Debit Allows Drivers to
Instantly Send Grubhub Earnings to Visa Cards
CHICAGO, June 14,
2022 /PRNewswire/ -- Grubhub, a leading food ordering
and delivery marketplace, today announced the launch of Instant
Cashout via Direct to Debit, which drivers can use to immediately
access their earnings. The new payout option, enabled by
Hyperwallet from Paypal and Visa Direct1 -
Visa's real-time2 money movement network
- offers more flexible access to earnings by allowing any driver
with an eligible bank debit card to deposit their accrued earnings
to their eligible debit or prepaid card.
"Cashing out is one of the most important features to Grubhub's
drivers, and we are constantly innovating to deliver 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 income they generate on our platform, while maintaining
the flexibility and independence that they appreciate from
Grubhub."
Direct to Debit is powered by Hyperwallet, a payout management
platform managed by PayPal, which in turn uses Visa Direct to
deposit those payments to bank debit cards.
"PayPal and Grubhub have nurtured a very strong relationship
over the last 10 years that has resulted in millions of customers
opting to use PayPal or Venmo at checkout," said Cindy Turner, vice president of large enterprise
product and growth at PayPal. "Currently more than 95 percent
of Grubhub transactions are processed by our enterprise offering
Braintree, which includes added benefits such as high authorization
rates and low risk losses. The addition of payouts through
Hyperwallet is a natural extension of our work together, and we are
excited to help drivers access their funds more quickly and
efficiently."
"Today's consumers are accustomed to 'real-time everything' and
worker expectations are no different when it comes to receiving
tips and earnings," said Yanilsa
Gonzalez-Ore, SVP, North America Head of Visa Direct.
"Through collaborations with companies like Grubhub, Visa Direct is
helping reshape money movement to provide workers with faster,
digital access to the money they've earned."
Instant Cashout via Direct to Debit is Grubhub's latest step to
increase financial stability and flexibility for its drivers and is
rolling out to all drivers throughout the month of June. The
company initially rolled out Instant Cashout - in partnership with
Chase - in 2019, allowing drivers to instantly cash out available
earnings straight to their bank accounts. More than 60 percent of
drivers currently use Instant Cashout as their primary or partial
means of getting funds, and drivers use the feature three times per
week on average.
About Grubhub
Grubhub is part of Just Eat Takeaway.com (LSE: JET), (AMS:
TKWY), a leading global online food delivery marketplace. Dedicated
to connecting more than 32 million diners with the food they love
from their favorite local restaurants, Grubhub elevates food
ordering through innovative restaurant technology, easy-to-use
platforms and an improved delivery experience. Grubhub features
more than 320,000 restaurant partners in over 4,000 U.S.
cities.
About PayPal
PayPal has remained at the forefront of the digital payment
revolution for more than 20 years. By leveraging technology to make
financial services and commerce more convenient, affordable, and
secure, the PayPal platform is empowering 429 million consumers and
merchants in more than 200 markets to join and thrive in the global
economy.
1 Visa Direct capability enabled
through Grubhub's financial institution partner
2 Actual fund availability depends on
receiving financial institution and region
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SOURCE Grubhub