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Mastercard and Lyft Partner to Provide Drivers Immediate Access to Their EarningsOne-third of the U.S. workforce earns at least part of their income through the gig economy. Today, Mastercard announced an expanded partnership with Lyft to bring Lyft drivers the tools they need to thrive in the ever-changing gig economy. Lyft Direct Debit, a new co-branded debit card and bank account issued by Stride Bank and powered by Payfare, strengthens drivers' economic security with hand-picked benefits, including immediate access to their earnings, secure, no-fee bank accounts and cashback on everyday purchases. The program will first launch in eight U.S. cities, including Atlanta, Denver, Houston, Las Vegas, Los Angeles, San Diego, Tampa, and Washington D.C. "The growing gig economy creates a particularly challenging yet exciting opportunity for us to leverage our tech infrastructure, digital payments expertise and data-backed insights to help level the playing field for gig workers," said Sherri Haymond, executive vice president, Digital Partnerships, Mastercard. "We are proud to partner with Lyft to empower drivers with the tools they need to bolster their economic security." "Today, we continue to build on our commitment to drivers with the launch of Lyft Direct, part of our broader Lyft Driver Services program, offering drivers accessible financial solutions and savings opportunities," said Ashwin Raj, vice president, Payments, Lyft. "We are thrilled to work with Mastercard, an industry leader in financial products and a thought leader in financial inclusion, to help drivers with everyday expenses." The Lyft Direct program provides tailored benefits with gig workers' needs in mind, including:
The Lyft Direct Mastercard Debit Card is powered by Payfare and issued by Stride Bank, N.A. Member FDIC, pursuant to a license from Mastercard International and available through the Lyft Driver app. For additional details, visit www.lyft.com/driver/direct-debit-card. *Source (News - Alert): Feb. 2019 MoneyRates.com Checking Account Fee Survey (https://www.money-rates.com/research-center/bank-fees) About Mastercard Mastercard (NYSE: MA), www.mastercard.com, is a technology company in the global payments industry. Our global payments processing network connects consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. Mastercard products and solutions make everyday commerce activities - such as shopping, traveling, running a business and managing finances - easier, more secure and more efficient for everyone. Follow us on Twitter (News - Alert) @MastercardNews, join the discussion on the Beyond the Transaction Blog and subscribe for the latest news on the Engagement Bureau.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190515005548/en/ |