Food delivery platform DoorDash, which this month went public at a $60.2B valuation, is rolling out a banking solution for its workers that includes a prepaid visa card and mobile banking app.

Why should we care?
Gig economy workers are a growing category of consumers with a specific set of financial needs. DoorDash’s banking platform, which is called DasherDirect, is a mini challenger bank tailored to the needs of DoorDash delivery workers, who are called Dashers. Users can get paid every day at no cost, check their balances, pay bills, transfer money, and set savings goals. They also have access to a fee-free ATM network, and don’t have overdraft fees or minimum account balance requirements. DasherDirect could serve as a building block for a broader set of financial services catered to delivery workers. Recognizing pain points for these types of workers, other gig economy platforms – including Uber, Lyft, and Grab – have launched financial products for their workers in recent years. DasherDirect is offered in partnership with payments company Payfare and Stride Bank. “This is a major step forward in introducing new tools to empower Dashers who count on DoorDash for reliable, independent and flexible work,” DoorDash CEO Tony Xu said in a statement.