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TaskRabbit Doesn't Want the Headache of Handling Your Money

TaskRabbit Doesn't Want the Headache of Handling Your Money
Photograph by Olivier Cadeaux/Corbis

When you hire one of TaskRabbit‘s 15,000 workers to pick up your clothes from the drycleaner, you pay the company, and the company pays the person you hired. Does that make TaskRabbit a money transmitter that needs state licenses to move payments around?

The company says no and that no regulators have come calling. TaskRabbit wants to settle the question, before the issue turns into a headache, by removing itself from moving money entirely. Today it’s becoming the first client of a new service from payments company Braintree that handles all sides of a deal: collecting money from buyers, routing it to sellers (or TaskRabbits, in the company argot), and forwarding TaskRabbit its fee.