Rapid payment service for restaurants which allows them to access money made from deliveries within a day.
Deliveroo has launched a new rapid payment service for restaurants which allows them to access money made from deliveries within a day.
The initiative will help restaurants access cash rapidly when many are struggling after having been forced to close for dine-in.
The new service is available to restaurants completely free of charge and Deliveroo has pledged to cover the increased banking charges for the rapid payments.
This new payment process will give restaurants faster access to their delivery revenue, helping them cover their costs, whether it’s paying staff wages or electricity bills.
Having access to cash has never been more important for restaurants as they face financial pressures during the COVID-19 crisis, with dine-in revenue having been halted.
As the government has forced restaurants to close their dine-in service, many are turning to food delivery to sustain their business.
Almost 3,000 new restaurants have signed up to Deliveroo in the past month, meaning more outlets can continue to serve customers through delivery.
Deliveroo’s new payment process will help restaurants’ ability to better manage their finances as they adapt to a delivery-only service.
Will Shu, founder and CEO of Deliveroo, said: “We want to do everything possible to support our restaurant partners. We are here to deliver for restaurants who want to carry on offering their amazing food to families at home. This new rapid payment system will immediately improve the cash flow of thousands of restaurants and help them better manage their finances during these challenging times.”
The service will be available for the next three months and then Deliveroo will assess whether to extend it at that point.