Lyft and Payfare have announced a long-term extension of their Lyft Direct program, continuing to offer drivers free instant pay, cashback rewards, and a suite of financial services.
Lyft Direct, a mobile banking solution tailored for Lyft drivers, enables immediate access to earnings after each ride, allowing for better financial management, Payfare said in a press release.
This program, powered by Payfare, includes a cashback rewards system that provides savings on expenses like fuel, it said.
“We are thrilled to continue our partnership with Lyft through the extension of Lyft Direct,” said Marco Margiotta, CEO and Founding Partner of Payfare. “Our mission has always been to empower gig economy workers with financial tools that improve their lives. By providing instant access to earnings and valuable cashback rewards, we are helping drivers on the Lyft platform achieve greater financial security and independence.”
Lyft Direct offers features such as tracking earnings, managing spending, and accessing exclusive discounts via the Lyft Direct app. Jeremy Bird, EVP of Driver Experience at Lyft, highlighted the importance of financial flexibility for drivers.
“Drivers can earn when, where, and for however long they want driving on the Lyft Platform, so they should also have access to those earnings whenever they need them,” Bird said. “Our partnership with Payfare provides drivers with immediate access to their finances via Lyft Direct, whether they are saving for their wedding, providing for a family, or trying to earn some extra money on the side to support their passions and dreams.”