US: Airbnb and digital payments company Visa have announced that Airbnb hosts in select markets will be able to access their earnings more quickly through a new partnership.
Through Airbnb’s use of Visa Direct, Visa’s real-time push payments platform, hosts will have an option to move money from Airbnb to a bank account associated with an eligible Visa debit card.
Ruben Salazar, SVP and global head of Visa Direct, said: “Giving people access to money they’ve earned when they earn it is a powerful driver to support communities and the recovery of the global economy. Visa Direct capabilities on the Airbnb platform can help improve cashflow for hosts, allowing them to focus on welcoming travellers eager to explore the world again.”
Despite a challenging year, more than 60 per cent of US consumers say they are now ready to travel and get away for a post-lockdown trip. The enhanced payouts experience with Visa Direct is designed to help give hosts better control of their finances so they can continue providing more guests with “unique and memorable experiences”.
Sam Shrauger, vice president of payments at Airbnb, said: “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.”
The collaboration is the latest in a series of Visa initiatives to help its financial-institution clients enable buyers and sellers access to tools and resources they need to build stronger business operations and move money around the world.
The new solution for Airbnb Hosts is expected to be available over the course of the next year.
It follows a recent push by Affirm, a transparent alternative to credit cards, t0 provide flexible payment options to those planning their next vacation, having partnered with the likes of Vrbo, Vacasa and RedAwning in the vacation rental space.