From Wired, Davey Alba reports that Stripe, a San Francisco startup, helps pay workers in the gig economy instantly. Dave writes:
LYFT CALLS IT Express Pay. As soon as drivers finish a shift, they can immediately deposit their pay in the bank and start using it—rather than wait the two or three days payouts typically take. Lyft launched the service about 11 months ago, and according to the ride-hailing company, it now pays out 50 percent of all driver earnings in this instant way.
Express Pay is driven by Stripe, the San Francisco startup that aims to make digital payments dead simple for all businesses. The company also does something similar for Instacart, Postmates, Care.com, and goPanache, and now, it’s offering the same technology to any online marketplace. It calls this new offering Instant Payouts.
Stripe’s Instant Payouts is particularly interesting because it applies to gig-economy services. These services help you find everything from a ride to a courier to a place to stay, but they also make it wonderfully easy to pay for these services. You don’t have to pull out your credit card when you take a ride with Lyft. Lyft pays the driver automatically, in the background. Now, Stripe makes it just as easy for drivers to actually get their hands on the cash.
Read the story at Stripe Now Lets Any Business Instantly Pay Its Workers | WIRED