-Kristina Gibson: Lyft is the fastest-growing on-demand transportation service in the U.S. One of the early challenges we faced is, how do you manage a complex marketplace payment business, end to end with one platform? We needed to be able to process all the different forms of payment that our passengers wanted to use, and then also be able to seamlessly pay out money to our drivers. And that's where Stripe really helped push the envelope and build a solution that met our needs. -Patrick Fong: The reason why I decided to drive with Lyft is three years ago I needed additional source of income to pay for my wedding, so it paid for our wedding and I still continue to drive with Lyft to pay for bills and other necessities. -Corbett McAndrews: There wouldn't be a Lyft without drivers. We heard for a long time that they needed to get paid on a more frequent basis than the traditional weekly direct deposits. -Kristina Gibson: They wanted to be able to decide when their pay day was going to be, so based on that, we decided to build a solution together with Stripe which was the Express Pay feature which is enabled by the Stripe Instant Payout platform. -Patrick Fong: Sometimes, things pop up where you do need money instantly; before Express pay I’d have to rely on getting paid weekly. When Express Pay launched it gave me the opportunity to cash out the same day which definitely helped out paying bills or even just taking my wife on a great night out on the town. -Corbett McAndrews: Driver reception to Instant Payouts has been huge. Since we started within the first six months of 2016, over 40% of all deposits were through Instant Pay and currently it's all the way up to 50%. -Kristina Gibson: For Lyft we want to design great experiences for our drivers and passengers, and I think Stripe gives us the ability to focus on developing innovative features such as the Express Pay feature. Lyft has grown 3x year over year, we did 162 million rides in 2016. From a payment perspective we haven't had to grow our team 3x because we know that we can rely on Stripe and the Connect platform to take care of the heavy lifting and the payment tools, so we didn't have to build them in-house. That allows Lyft to be focusing on our core mission of improving people's lives through building the world's best transportation service.
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