Foodpanda, a subsidiary of Delivery Hero, has on Thursday announced its strategic partnership with Cybersource, a Visa Solution, to elevate their customer checkout experience through frictionless payments in more than 10 markets across Asia Pacific.
Foodpanda said in a statement that the latest partnership with Cybersource enables foodpanda to elevate their customers’ payment experience through secured payment processing.
This includes seamless checkouts without the need for customers to enter their 16-digit credentials when paying for their deliveries.
The partnership also removes the hassle of updating their card details on foodpanda’s platform when their card expires or undergoes replacement.
According to the statement, this partnership aims to reduce the costs and complexities of technical integrations, increase speed to market, and will help to improve foodpanda’s authorisation rate while offloading them from PCI-compliance requirements in multiple markets.
This will not only help foodpanda deliver commercial and technological benefits, but also allow them to achieve operational simplicity with one consolidated platform to view transaction information across multiple markets.
It is noted that delivery services have become a part of everyday life for many consumers in the region.
In 2023, the foodpanda saw a 30 percent increase in bill sizes for food delivery from 2021 levels, indicating an increased consumer willingness to spend on on-demand delivery services.
Cybersource, Visa’s agnostic global payment and fraud management platform, is part of Visa Acceptance Solutions.
It provides on-demand pre-integrated payments solutions on an open payment platform.
This allows platform partners to connect to a robust ecosystem of technological tools to quickly build solutions that can create seamless commercial experiences, help scale businesses, satisfy customers, and future-proof operations.
“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.
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.
Delivery Hero is one of the world’s leading local delivery platforms, operating its service in over 70 countries across Asia, Europe, Latin America, the Middle East and Africa.
The company started as a food delivery service in 2011 and today runs its own delivery platform on four continents.
Headquartered in Berlin, Germany, the firm has been listed on the Frankfurt Stock Exchange since 2017 and is part of the MDAX stock market index.
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