Deliveroo speeds up payments for cash-strapped outlets

deliverooDeliveroo is giving the restaurant and take-away sector a much-needed shot in the arm following Government Covid-19 mandate to shut their doors to visiting customers by implementing a new swifter payment service to help their cashflow.

The new free scheme means restaurants will now receive money from deliveries within 24 hours; previously Deliveroo only paid outlets twice a month, on the 1st and the 16th. The company says it will cover the increased banking charges for the rapid payments.

Deliveroo recently revealed that 3,000 new restaurants had signed up to its service in the past month in order to maintain cashflow and to serve customers through delivery. The new payment process will boost their ability to manage their finances as they adapt to a delivery-only service.

The service will be available for at least the next three months and could be extended further.

Deliveroo founder and chief executive Will Shu said: “At Deliveroo, we want to do everything possible to support our restaurant 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 restaurants and help them better manage their finances during these challenging times.”

The company, which is heavily reliant on a data-driven strategy, is also looking to beef up its data science team and currently has nine vacancies across the UK department, based in London.

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