SAN FRANCISCO--(BUSINESS WIRE)--Visa (NYSE:V), the world’s leader in digital payments, and Airbnb (NASDAQ: ABNB), a leading online marketplace for lodging and experiences, today announced Airbnb Hosts in select markets will be able to access their earnings more quickly. Through Airbnb’s use of Visa Direct[1], Visa’s real-time[2] push payments platform, Hosts will have an option to move money from Airbnb to a bank account associated with an eligible Visa debit card.
“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,” said Ruben Salazar, SVP and Global Head of Visa Direct. “Visa Direct capabilities on the Airbnb platform can help improve cashflow for Hosts, allowing them to focus on welcoming travelers eager to explore the world again.”
Despite a challenging year, the future is looking brighter as people plan safe getaways in the months and years to come. In fact, more than 60% of US consumers say they’re now ready to travel[3]. The enhanced payouts experience with Visa Direct can help give hosts better control of their finances so they can continue providing more guests with unique and memorable experiences.
“As one of the first travel platforms to enable Visa Direct, this new functionality will help our Host community access their earnings more quickly,” said Sam Shrauger, Vice President of Payments at Airbnb. “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,” continued Shrauger.
This 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 at a time when real time payments have never been more important. The new solution for Airbnb Hosts is expected to be available over the course of the next year. Visit Visa Direct to learn more about how Visa can help unlock new ways to move money.
About Visa Inc.
Visa Inc. (NYSE: V) is the world’s leader in digital payments. Our mission is to connect the world through the most innovative, reliable and secure payment network - enabling individuals, businesses and economies to thrive. Our advanced global processing network, VisaNet, provides secure and reliable payments around the world, and is capable of handling more than 65,000 transaction messages a second. The company’s relentless focus on innovation is a catalyst for the rapid growth of digital commerce on any device, for everyone, everywhere. As the world moves from analog to digital, Visa is applying our brand, products, people, network and scale to reshape the future of commerce. For more information, visit About Visa, visa.com/blog and @VisaNews.
About Airbnb
Airbnb was born in 2007 when two Hosts welcomed three guests to their San Francisco home, and has since grown to 4 million Hosts who have welcomed over 800 million guest arrivals in almost every country across the globe. Every day, Hosts offer one-of-a-kind stays and unique Experiences that make it possible for guests to experience the world in a more authentic, connected way.
[1] Visa Direct capability enabled through Airbnb’s financial institution partners.
[2] Actual fund availability depends on receiving financial institution and region.
[3] Visa Business and Economic Insights: American Mood Trend. April 2021.