UAE’s leading food delivery and q-commerce platform Talabat has introduced an option for its vendors to accept cashless-only payments with the goal of obtaining 100 percent cashless payments in the future years.
The move reinforces the UAE’s goal of remaining one of the world’s top ten cashless payment economies. Further, it is intended to provide Talabat customers with improved safety from exposure to COVID-19 and ease of payment, and vendors with faster reconciliation and greater financial transparency.
Talabat is committed to supporting its ecosystem, from partner restaurants and customers to riders and staff, as well as the UAE’s digital transformation agenda through numerous relationships with governmental and commercial entities as part of its ongoing efforts.
“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.”
Talabat UAE’s online orders increased by 90 percent between January 2020 and January 2021, and app downloads more than doubled compared to the same period the previous 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,” as per the reports.