DoorDash and Payfare parter to introduce DasherDirect, a Visa prepaid card and mobile banking app
By Pavithra R
DoorDash, an American food delivery service has announced partnering with Payfare, powering digital banking & instant payout solutions for today’s workforce, to launch DasherDirect platform, a banking solution for DoorDash delivery drivers offering a Business Prepaid Visa Card and mobile banking app.
DasherDirect, issued by Stride Bank, member FDIC and powered by Payfare, is a card designed exclusively for Dashers and offers no-fee daily deposits of their DoorDash earnings, convenient digital banking functionality and cash-back rewards. This marks DoorDash’s first r financial platform for Dashers, providing them with exclusive new rewards and more flexibility and control over their earnings.
“We are committed to providing innovative solutions for gig workers that drive financial inclusion, which is why we are thrilled to partner with DoorDash and announce this major initiative. Since the inception of Payfare, we have quickly become a name synonymous with digital banking and instant payout solutions for the on-demand gig economy,” said Marco Margiotta, CEO of Payfare.
With the DasherDirect Business Prepaid Visa Card, earnings are automatically added daily to the DasherDirect Visa Card at no cost to the Dasher. Dashers can check their balance, transfer money, set savings goals, pay bills and find no-fee ATMs on the go without paying overdraft fees or minimum account balance requirements.
With the launch of DasherDirect, Payfare and DoorDash are providing Dashers with enhanced economic freedom, security and financial opportunity by putting money directly into Dashers’ hands. The financial platform is currently available to Dashers in select regions across the East Coast, with further nationwide rollout planned for early 2021. The DasherDirect app is available for iOS and Android users.
“Over seven million households in the U.S. are without a checking or savings account*, and with the support of our partners, we’re proud to provide financial resources to more Americans looking for flexible earnings opportunities. This is a major step forward in introducing new tools to empower Dashers who count on DoorDash for reliable, independent and flexible work,” said Tony Xu, CEO and Cofounder of DoorDash.
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