Bolt has launched an on-demand cash withdrawal feature dubbed Early Cash-Out, enabling drivers to instantly withdraw their earnings such as bonuses, passenger discounts and card payments as and when they need it.
The Early Cashout feature will improve cash liquidity for drivers’ by ensuring that they have more accessible and faster access to their earnings whenever they need it without necessarily waiting for a period of one week previously.
“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 Cashout feature will process payments directly to drivers’ mobile wallets (such as M-Pesa) and is available to Bolt drivers and riders once per day.
Early Cash-Out requests are processed almost instantly in Kenya.
“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.” added Micah.
All Bolt riders and drivers can now access the early Cash-Out feature at a fee of KES 70 which is a third-party processing cost.