Ride-hailing company Bolt has introduced a cash withdrawal option for its drivers in a bid to improve access to their income on the platform.
The new feature, dubbed Early Cash Out enables drivers to instantly withdraw their earnings such as bonuses, passenger discounts and card payments as and when they need it.
The Early Cash-out feature will also improve cash liquidity for drivers enabling them to have faster access to their earnings whenever they need it without having to wait for one week as has been the norm.
“We aim to ensure that our drivers have flexibility in how they access their earnings realized from cards, bonuses and passenger discounts. We strongly believe the feature will offer our drivers convenient, faster and effortless accessibility to their earnings in real-time. In turn, increasing their productivity, workflow, and overall financial well-being,” said Kenneth Micah, Bolt Regional Manager, East Africa.
The Early Cash-Out feature will also process payments directly to drivers’ mobile wallets (such as M-PESA) and is available to Bolt drivers and riders once per day.
The Early Cash-Out requests are processed almost instantly in Kenya, making drivers more in control of their money and needs.
“Bolt is a responsible brand that is constantly looking for innovative ways and opportunities to improve the economic welfare of drivers and also to guarantee best-in-class rider experiences on safety, affordability and platform reliability,” concluded Micah.
All Bolt riders and drivers in Kenya can now access the Early Cash-Out feature at a fee of Ksh. 70 which is a third-party processing cost.