Stripe Lets Sharing Economy Workers Deposit Their Wages Immediately

By: Joey Haar - Sep 20, 2016
References: stripe & wired
The sharing economy, as exemplified by companies like Lyft and Uber has created a new class of workers and Stripe is a mobile payment system that makes it easier and faster for the employers of these transient workers to pay wages.

Whereas in a regular, nine to five job, employees can simply be paid at regular intervals, workers in sharing economy jobs work irregular hours that they set for themselves. This makes it difficult for businesses to efficiently provide them with salaries. Stripe is a financial service used by Lyft and other large companies to speed up the payment process.

Before using Stripe, Lyft drivers had to wait two to three days after their shift until their wages were deposited. The new service allows drivers to get their earning deposited literally the moment as a shift is complete.