talabat UAE says that 100% cashless transactions are the future of online payments, introduces cashless option for all vendors
- talabat, the UAE’s leading food delivery and q-commerce platform has introduced a cashless-only option for vendor payments
- The organisation intends to have 100% cashless payments in the coming years
- The initiative is in line with the UAE Government’s digital economy vision for cashless payments
- Advantages of cashless payments include convenience, financial transparency, traceability and safety
talabat, the UAE’s leading food delivery and q-commerce platform announced in August that it has introduced an option for its vendors to accept cashless-only payments, and aims at reaching 100% 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%, based on January 2020 vs January 2021, and app downloads 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.
Commenting on the talabat’s vision to fully shift to cashless transactions, Jérémy Doutté, Vice President UAE at talabat said:
Moving forward, we see cashless payments as the primary currency. 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. 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.