Deliveroo have announced on Thursday a new financial service for their restaurant partners to support them during the coronavirus pandemic.
The company has introduced a new daily payment service to boost cash for their restaurant partners. Restaurants will now be able to receive money made from deliveries within a day, instantly improving the case flow of thousands of restaurants across the UK.
This new service is available to restaurants completely free of charge. Deliveroo will cover the increased banking charges for the rapid payments.
This new payment process will give restaurants faster access to their delivery revenue, helping them cover their costs, whether it’s paying staff wages or electricity bills.
Having access to cash has never been more important for restaurants as they face financial pressures during the coronavirus crisis, with dine-in revenue having been halted.
As the government has forced restaurants to close their dine-in service, many are turning to food delivery to sustain their business. Almost 3,000 new restaurants have signed up to Deliveroo in the past month, meaning more outlets can continue to serve customers through delivery.
Deliveroo’s new payment process will help restaurants’ ability to better manage their finances as they adapt to a delivery-only service. It will be available for the next three months and then Deliveroo will assess whether to extend it at that point.
This is just one of the recent schemes Deliveroo has announced to help restaurants during the coronavirus outbreak.
Responding to the needs of restaurants at this challenging time, Deliveroo has also, dropped onboarding fees for new restaurants.
The food delivery firm have created online marketing tools for restaurants to notify customers that they are available for delivery services
Deliveroo have also established teams of people across the business to support restaurants who want to be able to deliver, and launched a micro-site for restaurant partners which provides information and links for accessing government funding and help on how to operate during the outbreak.
Will Shu, founder and CEO of Deliveroo 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 cash flow of thousands of restaurants and help them better manage their finances during these challenging times.”