Deepinder Goyal thanks BigBasket for inspiring Zomato's new credit initiative
Zomato's move comes as food delivery and quick commerce companies are focusing on value propositions like easier payments, improved packaging, and quality service.
Zomato on Wednesday launched a feature to ensure customers can receive the balance for their COD orders in Zomato Money in case they cannot procure exact change, CEO and Founder Deepinder Goyal shared on X.
Goyal also went on to credit BigBasket for the inspiration behind the idea, which was one of the first ones to introduce the feature.
“Thank you @bigbasket_com for the inspiration for this solution, and our delivery partners (three of them are working as product managers with us) for insisting that we develop this asap,” the post read.
The balance in the Zomato Money account can be used for future delivery orders or dining out, further ensuring that consumers are bound to spend through the app.
This comes as customers increasingly move towards additional value propositions as larger assortment and quicker delivery timelines become a norm rather than an advantage.
Zomato clocked robust earnings in the April-June 2024 quarter, with its operating revenue rising by 74% to Rs 4,206 crore and earning a profit of Rs 253 crore. It has seen strong traction from Blinkit, which accounts for 22% of its total revenues, as the quick commerce vertical earned Rs 942 crore in revenue from Rs 384 crore last year.
Edited by Jyoti Narayan