Lodging and hospitality marketplace Airbnb has partnered with Visa Direct to better enable its Hosts to access their earnings quickly and efficiently.
Airbnb will utilise the Visa Direct real-time push payments platform so its host will have an option to move money from their Airbnb account to a personal bank account associated with an eligible Visa debit card.
Visa expects to initiate the new solution for Airbnb Hosts over the course of the next year, and follows a number of initiatives to assist its financial-institution clients enable buyers and sellers access to the tools and resources they need to build strong business operations and conduct international transactions.
“Giving people access to money they earned when they earn it is a powerful driver to support communities and the recovery of the global economy,” said Ruben Salazar, SVP and Global Head of Visa Direct.
“Visa Direct capabilities on the Airbnb platform can help improve cash flow for Hosts, allowing them to focus on welcoming travelers eager to explore the world again.”
The new partners aiim to give hosts greater control of their finances via the enhanced payouts system in order to provide a better experience for their guests, as more and more people begin to prepare for safe travel as national lockdowns across the world ease, with more than 60% of US consumers stating that they are ready to embark on journeys.
Sam Shrauger, Vice President of Payments at Airbnb, added: “As one of the first travel platforms to enable Visa Direct, this new functionality will help our Host community access their earnings more quickly.
“We are always listening to our Hosts and seeking ways to better meet their needs, and Visa Direct can play an important role in providing faster payouts for Hosts.”
Earlier this year Visa formed a partnership with Middle East and Africa-based payment company Pyypl, focused around the promotion of financial inclusion in emerging markets as well as collaborating on payment accounts.
