Zomato Launches Instant Balance Feature For Cash-On-Delivery Orders Inspired By BigBasket; Shares Surge By 6.78%

In a latest development, Zomato boss Deepinder Goyal recently announced a new feature designed to make payment process more smoother.

Taking on the social platform X, formerly Twitter, the CEO of Zomato, 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."

"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," he added.

In a move to simplify cash-on-delivery transactions, starting this week, Zomato users can pay their delivery partners in cash and request that any remaining balance be credited to their Zomato Money account.

Finding exact change for cash-on-delivery orders has often been a hassle for both customers and delivery partners.

Prior to this development, the company has also launhed an app 'District' aimed at offering a wide range of services beyond food delivery, including dining, movie tickets, and staycations. Along with its core businesses of food delivery and Blinkit, this new app is also expected to become a major player in the company's portfolio.

Financial Highlights

Apart from this, the company alsp posted a substantial surge in consolidated net profit, reaching Rs 253 crore for the quarter ending June 2024, a jump from Rs 2 crore in the same quarter last year.

Share performance

The shares of the company on Wednesday at 3:30 pm IST closed at Rs 265.98, up by 6.78 per cent.