Delivery Hero subsidiary Foodpanda Said, that it has formed a strategic alliance with Visa Solution Cybersource to improve consumer checkout through frictionless payments in over ten Asia Pacific markets.
In a statement, Foodpanda stated that they are able to improve their clients’ payment experiences through secure payment processing as a result of their most recent relationship with Cybersource.
This includes smooth checkout processes that eliminate the requirement for clients to input their 16-digit login credentials in order to pay for their deliveries.
Additionally, when their card expires or is replaced, the agreement eliminates the inconvenience of changing their card data on the foodpanda site.
The cooperation, according to the announcement, would relieve foodpanda of PCI compliance requirements in some areas, lower costs and complications associated with technological integrations, accelerate time to market, and enhance foodpanda’s authorisation rate.
This would enable foodpanda to attain operational simplicity with a single, unified platform to examine transaction information across numerous markets, in addition to helping them deliver technological and economic benefits.
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It is observed that many customers in the area now consider delivery services to be a necessary part of their daily lives.
Foodpanda observed a 30 percent rise in food delivery bill sizes in 2023 compared to 2021 levels, suggesting that consumers are more prepared to spend money on on-demand delivery services.
Part of Visa Acceptance Solutions is Cybersource, Visa’s agnostic worldwide payment and fraud management platform. On an open payment platform, it offers pre-integrated on-demand payment options.
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This enables platform partners to get access to a wide range of technology tools and swiftly develop solutions that can facilitate smooth business transactions, support corporate growth, please clients, and ensure operations are future-proof.
“We understand the importance of delivering a great experience for our customers which is why we have partnered with Cybersource to leverage on their integrated payment solutions with local acquiring so that our customer checkout journey is intuitive and secure, Their proven security, stability and uptime has allowed us to focus on what matters – which is having our customers’ favorite meals, groceries and parcels delivered straight to their door,” said Luc Andreani, Chief Operations Officer of foodpanda.
One of the top local delivery services in the globe, Delivery Hero offers its services in more than 70 nations in Asia, Europe, Latin America, the Middle East, and Africa.
In 2011, the company began as a meal delivery service and now operates its own delivery network over four continents.
Dan Parsons, Head of Cybersource, Asia Pacific, Visa, said that as an open payments platform with global reach, their integrations simplify the payment experience by streamlining multiple payment gateways, helping our partners accelerate their business growth. This partnership is just the beginning, and we will look to collaborate in other areas and deliver tailored and secure solutions that can enable further customer growth as well as enhanced customer experience for foodpanda,” he added
The company, which has its headquarters in Berlin, Germany, is a member of the MDAX stock market index and has been listed on the Frankfurt Stock Exchange since 2017.
About FoodPanda
Foodpanda wants to change how food, culture, and tech are related. Problem-solvers, designers, and thinkers at foodpanda work 24/7 to make it the most powerful online food convenience tool in the universe.
About Cybersource
Cybersource develops adaptable, creative commerce solutions for everyday living that delight clients and boost worldwide growth.
