Zomato introduces daily payouts for restaurant partners
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
Online food delivery platform Zomato on Wednesday introduced a new feature called "daily payouts" to support emerging restaurant partners.
Currently, the feature will be available for restaurant partners who receive 100 or fewer orders a month, according to the company.
"Our discussions with various restaurant partners highlighted the financial challenges smaller eateries face, using the traditional weekly payout system. This feature is designed to address this critical need for more frequent access to earnings," Zomato said in a blogpost.
The key features of daily payouts include -- no extra cost, improved cash flow, and flexibility in management.
The 'no extra cost' will allow you to switch from weekly to daily payouts without any additional fees; the 'improved cash flow' will let you do daily settlement of transactions, based on sales from three days prior; and the 'flexibility in management' will provide seamless switch between daily and weekly payouts through the Zomato Restaurant Partner App.
Interested restaurant partners can access the daily payout option through the Payout section of the Zomato Restaurant Partner App.
Meanwhile, Zomato has increased its mandatory platform fee to Rs 4 from Rs 3 per order across key markets. The new rates were effective from January 1.
New Year’s Eve saw Zomato temporarily increasing its platform fee as high as Rs 9 per order in certain markets.
