Grubhub offers drivers faster payments
With new partnerships with PayPal and Visa, Grubhub offers its drivers immediate access to their earnings via Instant Cashout via Direct to Debit, which is enabled by Hyperwallet. This allows any driver with an eligible bank debit card to deposit their presumed winnings to their debit or prepaid card.
“Collection is one of the most important features for Grubhub 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 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 platform operated by PayPal, which in turn uses Visa Direct to deposit these payments into bank debit cards.
“PayPal and Grubhub have enjoyed a very strong relationship over the past 10 years, which has led to millions of customers choosing to use PayPal or Venmo when paying,” said Cindy Turner, vice president of product and the growth of large businesses at PayPal. “Currently, over 95% of Grubhub transactions are processed through our Braintree enterprise offering, which includes additional benefits such as high authorization rates and low risk loss.”
“Consumers today are used to ‘everything in real time’ and worker expectations are no different when it comes to receiving tips and earnings,” said Yanilsa Gonzalez-Ore, SVP, Head of Visa Direct North America. “Through collaborations with companies like Grubhub, Visa Direct is helping to reshape the movement of money to provide workers with faster digital access to the money they’ve earned.”
Instant Withdrawal 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 June. The company originally rolled out Instant Cashout – in partnership with Chase – in 2019, allowing drivers to instantly cash out available earnings directly to their bank accounts.
Over 60% of drivers currently use Instant Cashout as a primary or partial means of obtaining funds, and drivers use this feature three times per week on average.