Bolt has launched a feature that will enable drivers to withdraw their earnings.
We strongly support employers who look for ways to increase productivity in different ways. Have you ever entered a bolt ride and the driver rants about their earnings or the payment structure? well, I have. A lot of drivers don’t actually own the cars they drive yet they often have to fuel and sometimes even maintain the car depending on the agreement they have with the owner.
The reality of a cab guy driver is that they often live hand to mouth especially when they are unable to access their earnings until they receive payment from the company which happens weekly, while this is not a long waiting period, it can also be an inconvenience for those who would like to literally live from hand to mouth.
How will the Early Cash-Out help?
Drivers will be able to withdraw their earnings such as bonuses, passenger discounts and card payments at least once a day but at a fee of KSh 70 which is a third-party processing cost. The idea is to ensure that drivers and riders have improved cash liquidity for drivers’ this will probably motivate the drivers/riders to do more hours knowing they can access their money if they hit their daily target.
Kenneth Micah, Bolt Regional Manager, East Africa said:
“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,”
How will they access their earnings?
Just like most payments made in Kenya the feature will be processed directly to drivers’ mobile wallets such as M-Pesa and will be available to all drivers and riders once a day every day.