Mastercard and Stripe have partnered for speedier payments to sellers on online marketplaces. Marketplaces that use Stripe (e.g., grocery delivery service Instacart, ridesharing company Lyft and general delivery service Postmates) can now pay their sellers instantly with Mastercard Send. The drivers, caregivers and other contractors who offer their services through those marketplaces can use the Mastercard P2P payment product to get paid immediately for their work.
“In building instant payouts, we’ve been fortunate to work closely with great partners, including Mastercard,” said Billy Alvarado, chief business officer for Stripe. “Millions of people drive, deliver, provide healthcare or otherwise sell on marketplaces using Stripe. Whether they’re earning a living full-time or doing part-time work, for these people, getting paid a few days faster is a big help.”