Gopuff, Stripe, Others Team on Instant Cash Out | #computerhacking | #hacking


Delivery firm Gopuff has teamed with financial infrastructure platform Stripe and partners like real-time money movement network Visa Direct to give U.S. delivery partners the ability to cash out their earnings balance instantly whenever they want with a few clicks.

The new capabilities make Gopuff one of the first instant commerce businesses to offer an instant pay option for its drivers, according to a company press release Wednesday (Aug. 3).

“Now more than ever, delivery partners are looking for convenience and speed when accessing their earnings,” said Daniel Folkman, senior vice president of business at Gopuff. “We’re proud to partner with Stripe to offer U.S. delivery partners a new Instant Cash Out option, which enables them to access and use their earnings within minutes, rather than days.

“We will continue to listen to delivery partner feedback and invest into their experience delivering with Gopuff.”

Instant Cash Out is one of several investments Gopuff has made to improve the experience with its delivery partners, per the release.

“Platforms like Gopuff are making it more convenient for consumers to access what they need, and delivery partners to get paid quickly,” said James Dyett, head of strategic accounts at Stripe. “We’re proud to power faster access to earnings as Gopuff builds on its success with Stripe’s financial infrastructure, especially in a time when every dollar counts.”

Last month, Bloomberg reported the Gopuff will be cutting 10% of its global workforce, equating to about 1,500 employees, and is also planning to shut down dozens of warehouses. The cuts will hit both corporate and warehouse jobs, according to a Gopuff memo.

Related: Delivery Firm Gopuff Cuts 1,500, Closes Warehouses

The report said Gopuff plans to shut down 76 warehouses, the equivalent of 12% of its network across the U.S., helping it consolidate its footprint in various cities. This shows how Gopuff is reversing itself, as it has previously been expanding at “breakneck speed.”

The July cuts represented the second time in the past four months that the company has cut positions; Gopuff also slashed 3% of jobs in March, when it called off its plans to go public. The company was valued at $15 billion in July 2021 and had generated almost $2 billion in revenue last year.

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NEW PYMNTS SURVEY FINDS 3 IN 4 CONSUMERS WITH STRONG DEMAND FOR SUPER APPS

About: The findings in PYMNTS’ new study, “The Super App Shift: How Consumers Want To Save, Shop And Spend In The Connected Economy,” a collaboration with PayPal, analyzed the responses from 9,904 consumers in Australia, Germany, the U.K. and the U.S. and showed strong demand for a single multifunctional super apps rather than using dozens of individuals ones.



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