Singapore – Fiserv, a global fintech solutions firm, has recently announced a strategic collaboration with online food and online delivery platform foodpanda. This new partnership will extend across online platforms and mobile and digital wallets, making Fiserve as foodpanda’s primary acquirer in Singapore and Hong Kong.
As part of the agreement, foodpanda is set to leverage Fiserv’s expertise in large-scale payment processing, allowing the delivery platform to simplify the complexities of payments across a global footprint. This move further enables them to achieve better operational efficiencies and grow.
With the solution, the company has also helped foodpanda in providing faster, more streamlined e-commerce payments across multiple markets, starting with Singapore and Hong Kong.
At the same time, it has enabled foodpanda to expand and implement payment solutions supported by global expertise while accommodating local nuances with minimal integration complexity and time to market.
Suhaib Khanyari, general manager at Fiserv in ASEAN and North Asia, said, “As e-commerce transactions are set to increase significantly over the next few years, it is essential to provide our customers with the ability to securely accept the most relevant ways to pay — from anywhere and at anytime.”
“Our global acquiring platform and expertise enable major e-commerce platforms like foodpanda to deliver in-demand features while enabling a frictionless payment experience, and optimising processes by unifying reporting, billing, and settlements,” Khanyari further explained.
In terms of security, the company’s e-commerce solutions also comply with the security standards set by the Payment Card Industry Security Standards Council (PCI SSC).
With a PCI DSS-certified platform, foodpanda is further able to efficiently handle high-volume transactions while ensuring the highest standards for data security. The platform then ensures secure, 24/7 data access with robust access controls, streamlining reconciliation and accounting procedures.
Abhishek Sahay, senior director, Enterprise, Fintech, and COO Office at foodpanda, also commented, “foodpanda saw a 30% rise in bill sizes for food delivery compared to 2021 — signalling increased consumer willingness to spend more on on-demand services. With our growing presence, it is crucial to future-proof our operations to accommodate further growth while strengthening our ability to enter new markets.”
“Partnering with payment providers like Fiserv to streamline our payment processing allows us to focus on what matters—our customers, vendors, and riders—the heart of our ecosystem. We want our customers to keep coming back to the service and delectable experience we create,” he added.
