Swiggy, the online food delivery and ordering platform, this week claimed that it will employ privately-operated ICICI Bank to enable its delivery fleet to carry out digital transactions.
“Via the employment of ICICI Bank’s automated cash deposit machines at ATMs & branches all over the nation and UPI (Unified Payment Interface)-supported solution for immediate fund transfers, the delivery fleet will have a disturbance-free method of transferring cash,” the firm claimed to the media in an interview.
Swiggy works with a fleet of more than 20,000 delivery people supplying food from more than 25,000 restaurants all over 12 cities. With the option of “cash on delivery” being a broadly employed mod of payment on the portal, the methods of digital payment permit the delivery employees to swiftly transact the cash to Swiggy, saving their time, as per the reports.
“With the delivery group being the foundation of Swiggy, the acceptance of the digital transaction solutions will back the ease of processes and save thousands of kilometers of travel as well as their time,” claimed Rahul Bothra, the CFO (Chief Financial Officer) of company, to the media in an interview. The digital payment ways will also assist in stopping any fund leakages, the firm claimed.
Established in 2014, Swiggy plans to alter the method India eats and is presently functional in cities such as Gurugram, New Delhi, Pune, Mumbai, Bengaluru, Kolkata, Chennai, and Hyderabad among handful of others.
Previously in 2017, Swiggy calculated a potential stock-based amalgamation with rival Zomato, which indicated the frantic discussions happening in the Internet industry of India as even rivals look for places for cooperation.
The discussions, amid the management of the 2 firms, were conducted, but were unsuccessful to progress as dissimilarities in expected valuations and business alignment prove hard to solve. While Zomato has planned a stock-based amalgamation, Bengaluru-located Swiggy is eager to operate and acquire the food delivery commerce of the Gurgaon-located competitor.