Zomato has introduced a feature allowing cash payments for orders, with an option to instantly credit the balance to users' Zomato Money account for future use.
CEO Deepinder Goyal announced the feature, inspired by BigBasket, to simplify cash transactions for customers and enhance convenience. Recent innovations include order history removal, a loyalty program, and ITR filing for delivery partners.
Zomato continues to focus on operational improvements and financial growth, reporting a net profit of INR 253 Cr in Q1 FY25 and planning the launch of 'District,' an app for discovering and booking restaurants and events.
Foodtech major Zomato
has rolled out a new feature that will now allow cash payments for orders, with an option to instantly credit the balance amount to the users’ Zomato Money account for future use.
Taking to social media platform X, Zomato CEO Deepinder Goyal said, “For cash on delivery orders, finding exact change can sometimes be inconvenient. Starting today, our customers can pay delivery partners in cash, and ask for the balance amount to be added instantly to their Zomato Money account. This balance can be used towards future delivery orders or dining out.”
Goyal credited ecommerce platform BigBasket for inspiring the solution, saying, “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.”
BigBasket responded to Goyal’s post, commenting, “Glad to see our inspiration at work! Kudos to your team for making life easier for foodies everywhere. Let’s keep innovating.”
This new feature comes on the heels of several other recent innovations by Zomato. Last month, the company launched a feature allowing customers to remove past orders from their app history.
Zomato has also rolled out a loyalty programme for select restaurants and begun facilitating income tax return (ITR) filings for its delivery partners.
In June, Zomato unveiled an all-electric large order fleet and a ‘Pure Veg’ fleet. The company has also been testing last-mile delivery for office goers inside corporate parks and priority deliveries in parts of Bengaluru and Mumbai.
Zomato’s focus on new features and operational improvements comes as the company continues to strengthen its financial position. In Q1 FY25, Zomato reported a consolidated net profit of INR 253 Cr, a significant increase from INR 2 Cr in Q1 FY24. The company’s revenue from operations jumped 74% to INR 4,206 Cr in the same period.
The foodtech major is also expanding its presence in the ‘going-out’ space. Zomato recently announced plans to launch a new app called ‘District’ for its going-out business, which will allow customers to discover and book restaurants, as well as purchase tickets for movies, sports events, and live performances.
As of August 1, Zomato’s stock was trading at INR 234 on the BSE, reflecting investor confidence in the company’s growth strategy and recent innovations.
