Food delivery and q-commerce platform, talabat, has announced that it has introduced an option for its vendors to accept cashless-only payments, with the aim of reaching 100 per cent cashless payments in the coming years.
The move supports the UAE’s vision of remaining one of the top 10 cashless payment economies in the world, and is aimed to provide talabat customers with enhanced safety from exposure to Covid-19 and ease of payment, and vendors with faster reconciliation and greater financial transparency.
Earlier this year, talabat UAE’s online orders grew by 90 per cent in January 2021, compared to the same period in January 2020, and app downloads also doubled in comparison to the same period last year. This growth in orders has created an increased need for cash-handling, and infrastructure upgrades resulting in the introduction of a small cash-handling fee, similar to a bank's fee for online payments.
Jérémy Doutté, vice president of talabat UAE, said that he sees cashless payments as the primary currency moving forward. "As a matter of fact, cashless already stands for the lion share of our transactions. Therefore, we want to support partners who want to engage in that transition. We will continue to offer cash-on-demand as a service while encouraging the usage of cashless payment methods. The future in the UAE is digital."
"Going cashless brings several advantages including convenience, financial transparency, traceability and safety," he added. "It also reduces the risk of loss of physical money and the usage of paper, adding an environmental factor that is in line with talabat’s sustainability mission. A cashless economy is no longer an ambition, it is the reality of the times that we live in, which has been rapidly accelerated by Covid-19."
As part of its ongoing efforts, talabat remains committed to supporting its ecosystem - from partner restaurants and customers to its riders and employees - and the UAE’s digital transformation vision through various partnerships with governmental and private entities.
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