19 March 2018, India:
Online food delivery startup Swiggy has partnered with ICICI Bank to launch two digital solutions for its delivery partners. The solutions include Unified Payment Interface (UPI) based solution for instant fund transfers on-the-go and an option for facilitating cash deposits at automated Cash Deposit Machines (CDM) available at ICICI Bank branches and ATM locations across the country.
“Through the use of Unified Payment Interface (UPI)-based solution for instant fund transfers and automated cash deposit machines at ICICI Bank branches and ATMs across the country, the delivery fleet will have a hassle-free way of transferring funds,” the company said in a statement.
Swiggy’s delivery partners will have their own UPI handle (VPA), to which they can link their savings bank account and start transacting by using any UPI-enabled app. ICICI Bank will credit the beneficiary’s (Swiggy’s) account instantly as well as send the delivery partner’s details to Swiggy, enabling it to update the collection against the delivery partner instantly.
“Our delivery partners are the backbone of Swiggy. We are constantly looking for ways to support the ease of operations by adopting superior technology, and the partnership with ICICI Bank on both the UPI solution and automated CDM will take this a notch higher. It will help achieve our shared objective of providing a great food experience to consumers in a seamless and convenient manner,” Rahul Bothra, Chief Financial Officer, Swiggy
“We are delighted to offer our UPI platform to Swiggy which is one of India’s largest food ordering and delivery platform. The integration aims to bring about unparalleled convenience for Swiggy’s large fleet of delivery partners by reducing the need for travelling to their collection hubs to deposit the money. We believe solutions like these will help Swiggy’s delivery partners optimise their time and maximise efficiency,” B. Madhivanan, Group Executive and Chief Technology and Digital Officer, ICICI Bank.
Swiggy operates with a fleet of over 20,000 delivery persons delivering food from over 25,000 restaurants across 12 cities.
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