Deliveroo takes action to boost cashflow for outlets

Deliveroo takes action to boost cashflow for outlets

Deliveroo has announced a new financial service for its restaurant partners to support them during the coronavirus pandemic. Outlets will now be able to receive money made from deliveries within a day, instantly improving the cashflow of thousands of restaurants across the UK.

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. It is available free of charge, with Deliveroo covering the increased banking charges for the rapid payments.

With the government having forced restaurants to close their dine-in services, 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. The new payment process will be available for the next three months and then Deliveroo will assess whether to extend it at that point.

This is just one of the recent schemes the company has announced to help restaurants during the coronavirus outbreak. Other moves include dropping onboarding fees for new partners, creating online marketing tools for restaurants to notify customers that they are available for delivery services, and developing a new ‘contact-free delivery’ feature in its app in order to promote hygiene.

Will Shu, founder and CEO of Deliveroo, said: “We want to do everything possible to support our 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 cashflow of thousands of businesses and help them better manage their finances during these challenging times.”