Visa has announced an agreement with Postmates to enable real-time funds disbursement to their entire fleet. The feature, Postmates 'Instant Deposits', is facilitated by Stripe’s Instant Payouts feature, running on Visa Direct, Visa’s real-time push payments platform, and is now live and available to the Postmates fleet of more than 200,000 in the US.
The Postmates fleet is responsible for facilitating the millions of deliveries that Postmates makes each month. Since launch in 2011, Postmates has relied on Stripe Connect, Stripe’s product for multi-sided marketplaces, to handle all aspects of the payments experience, including accepting payments from customers and sending payments to 'postmates'. Now with this agreement for Visa Direct, postmates who are Visa cardholders will be able to use Stripe Instant Payouts to gain real-time access to their earnings, as opposed to waiting 4-7 business days to receive payouts. By routing transactions through Visa Direct, Postmates is able to offer members of its fleet a quick, secure payment experience that sets them apart from competitors.