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DoorDash and Payfare Announce Exclusive Cash Back Rewards with DasherDirect
Rhea-AI Impact
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Rhea-AI Sentiment
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Rhea-AI Summary
DoorDash (NYSE: DASH) has launched an enhanced rewards program for Dashers in the U.S., in partnership with Payfare (TSX: PAY). The new program offers up to 6% cash back at select restaurants and 5% at participating retailers. This initiative aims to provide financial benefits and support for Dashers, enabling them to save on essential purchases. The DasherDirect cardholders will continue to enjoy features like free digital banking and immediate access to earnings. The expanded rewards reflect DoorDash's commitment to enhance financial opportunities for its platform users.
Positive
Launch of exclusive rewards program offering up to 6% cash back at restaurants and 5% at retailers, enhancing value for Dashers.
Strengthens the partnership with Payfare, indicating growth potential in the gig economy financial services sector.
DasherDirect cardholders benefit from free digital banking and instant access to earnings, improving user satisfaction.
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U.S. Dashers will have access to exclusive cash back rewards from national retailers
SAN FRANCISCO & TORONTO--(BUSINESS WIRE)--
Today, DoorDash (NYSE: DASH) and Payfare Inc. (TSX: PAY) launched an exclusive expanded rewards program for Dashers across the United States. Now, DasherDirect cardholders can enjoy new savings including up to 6% cash back at participating restaurants, 5% at participating retailers and additional savings on eligible purchases across hundreds of brands including rewards from local and national retailers, including Costco, Adidas, Shake Shack, H&M and more.
“For many Dashers, DasherDirect is a one-stop shop for digital banking and instant access to earnings,” said Emma Glazer, Director of Dasher Marketing at DoorDash. “We are excited to partner with Payfare to offer meaningful rewards for every DasherDirect cardholder – from saving on everyday necessities like gas, to enjoying cash back from their favorite retailers – DoorDash is proud to support financial opportunity for Dashers on our platform.”
The DasherDirect Business Prepaid Visa Card and mobile banking app, powered by Payfare, already offered Dashers free digital banking, instant access to their earnings after every dash, and two percent cash back on every gas purchase.
“Building off the successful nationwide rollout of DasherDirect, we worked quickly to further expand our reward programs for cardholders,” said Braulio Lam, Chief Product Officer of Payfare. “We are excited to deepen our partnership with Cardlytics to be able to offer these exclusive rewards to Dashers, and will continue working to innovate our rewards programs, international money transfer capabilities and early direct deposit functions for all gig platforms that Payfare supports.”
“I’ve really enjoyed DasherDirect, and expanded cash back offerings are exciting,” said San Francisco-based Dasher, Jade L. “No fees on instant direct deposits gives me total control of my expenses, and I always know how much I have left on my DasherDirect card. While the gas savings are huge, I’m excited to get cash back on my regular daily expenses. At the end of the year, it’s going to be a lot easier to itemize my spending as a Dasher.”
Participating retailers can be found in the DasherDirect app. The DasherDirect app is available for iOS and Android mobile users on the Apple App Store and Google Play Store. The DasherDirect Business Prepaid Visa Card is issued by Stride Bank, N.A., member FDIC, pursuant to a license from Visa U.S.A. Inc, and is subject to eligibility.
DoorDash (NYSE: DASH) is a technology company that connects consumers with their favorite local and national businesses across the United States, Canada, Australia, Japan, and Germany. Founded in 2013, DoorDash enables local businesses to address consumers’ expectations of ease and immediacy and thrive in today’s convenience economy. By building the last-mile logistics infrastructure for local commerce, DoorDash is bringing communities closer, one doorstep at a time.
About Payfare
Payfare is a global financial technology company powering digital banking and instant payout solutions for today’s gig workforce. Payfare partners with leading platforms and marketplaces, such as Uber, Lyft and DoorDash, to provide financial health for their workforce.
