Instant financial transactions are coming to market all over the world. Especially Visa seems to be a proponent of this particular concept. The company is teaming up with Postmates to enable real-time funds disbursement. The new venture will operate under the Postmates Instant Deposits banner.
It is interesting to note how financial service providers come together to launch new services. Postmates and Visa benefit from Stripe’s Instant Payouts features, which runs in Visa Direct. As such, over 200,0000 members in the US-based Postmates fleet can benefit from real-time funds disbursement. This is a big change in the world of finance, and one that can bring a lot of positive momentum to Postwaves.
Another Instant Payments Push by Visa
The Postmates fleet is a key cog in the machine of the US economy. It facilitates millions of deliveries every single month. With the new agreement for Visa Direct, cardholders can use Stripe Instant Payouts for real-time access to their earnings. This removes the need for a 4-7 day waiting period which has been maintained to date. Routing transactions in a different manner results in a quick and secure payment experience.
Visa Senior VP and head of North America Push Payments Cecilia Frew adds:
“As we see the on-demand economy gain momentum, 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 workers to access their earnings. Faster access to money matters and Visa Direct is uniquely positioned to help companies like Postmates who have a growing and on-demand workforce.”
This is another example of how readily available infrastructure is being put to good use. Direct funds disbursements have always been possible, yet it was always delayed by the several parties responsible for processing transaction information. Visa commits itself to provide faster innovative payment solutions for the on-demand economy.