Swiggy to use UPI-based payment service for delivery fleet

Swiggy has partnered with ICICI Bank for its latest payment solution.

Swiggy was founded in 2014. (Swiggy)

Swiggy on Monday said that it would introduce a new digital payments system to make funds transfer easier for its delivery fleet. The food delivery app will use ICICI Bank to allow its delivery fleet to make digital payments.

"Through the use of Unified Payment Interface (UPI)-based solution for instant fund transfers and automated cash deposit machines at ICICI Bank branches and ATMs across the country, the delivery fleet will have a hassle-free way of transferring funds," the company said in a statement.

Swiggy operates with a fleet of over 20,000 delivery persons delivering food from over 25,000 restaurants across 12 cities.

With cash-on-delivery being a widely used method of payment on the platform, the digital payment methods allow the delivery men to quickly transfer the funds to Swiggy, saving their time, according to the statement.

"With the delivery fleet being the backbone of Swiggy, the adoption of the digital payment solutions will support the ease of operations and save their time and thousands of kilometres of travel," said the company's Chief Financial Officer (CFO) Rahul Bothra in the statement.

The digital payment methods will also help in preventing any cash leakages, the company said.

Founded in 2014, Swiggy aims to "change the way India eats" and is currently operational in cities like New Delhi, Gurugram, Mumbai, Pune, Kolkata, Bengaluru, Hyderabad and Chennai among a few others.