Knot, the leading merchant connectivity platform, today announced a strategic partnership with Fiserv to integrate Knot’s CardSwitcher technology with Lyft Direct. This collaboration empowers Lyft drivers to effortlessly update their Lyft Direct card information across their favorite merchants and subscription services, ensuring uninterrupted access to their earnings and everyday spending.
Addressing a Critical Pain Point for Gig Economy Workers
Drivers on the Lyft platform depend on their Lyft Direct card to access earnings instantly and manage daily expenses. However, when cards are reissued or replaced, the manual process of updating payment information across multiple merchants can be time-consuming and often leads to failed payments and service interruptions. Knot’s CardSwitcher eliminates this friction by enabling drivers to update their saved payment methods across hundreds of merchants with just a few clicks and no manual data entry required.
“Lyft drivers work hard every day, and they deserve payment solutions that work just as hard for them,” said Rory O’Reilly, CEO and Co-Founder of Knot. “By partnering with Fiserv to bring CardSwitcher to Lyft Direct, we’re eliminating the hassle of updating payment information across multiple platforms. This means fewer failed payments, less disruption, and more time for drivers to focus on what matters most: earning and driving with confidence.”
How It Works
Through this partnership, Lyft Direct cardholders can access Knot’s CardSwitcher technology to seamlessly update their card-on-file information at select merchants. Whether a card is reissued, replaced, or updated, drivers can ensure their payment information remains current across their favorite platforms without navigating each merchant site individually.
With no technical integration required by merchants, Knot’s solution provides a secure and user-friendly experience while helping merchants reduce payment failures and improve checkout conversion rates.
Scaling Card-on-File Management with Fiserv
Fiserv’s robust payment infrastructure and Knot’s innovative CardSwitcher technology create a powerful combination to serve the unique needs of gig economy workers. This partnership demonstrates both companies’ commitment to leveraging technology to enhance financial experiences and reduce friction in digital payments.
Building Momentum in the Fintech Ecosystem
This partnership with Fiserv marks another significant milestone for Knot as it continues to expand its network of financial institutions and fintech partnerships. Knot has previously collaborated with leading companies including American Express, PayPal, Bilt, OnePay, Step, and many others to simplify card-on-file management for millions of users.
