On August 7, 2024, Deepinder Goyal, CEO of Zomato, took to platform X to announce an exciting update for the food delivery service. Zomato is rolling out a new feature designed to streamline cash-on-delivery transactions. This enhancement allows customers to request that any excess amount from their cash payment be added to their Zomato Money account.
Simplifying Payments with Zomato Money
Deepinder Goyal shared that this new functionality aims to tackle the common inconvenience of not having exact change when paying for cash-on-delivery orders. “Starting today, our customers can pay delivery partners in cash and request that the remaining balance be added instantly to their Zomato Money account,” Goyal explained. This balance can then be utilized for future orders or dining experiences through Zomato.
Customer Convenience and Inspiration
The introduction of this feature addresses a prevalent customer concern regarding finding exact change. By adding the balance to their Zomato Money account, users can avoid the hassle of making small change available at the time of delivery. This innovative solution is inspired by similar practices seen in Tata Digital-owned BigBasket, and it was pushed forward by Zomato’s delivery partners, who are now involved as product managers in the project.
Positive Market Reaction
The announcement has been met with positive feedback from users. Many appreciate the focus on enhancing convenience in the cash-on-delivery process. Comments on platform X reflected this sentiment, with some users praising Zomato’s customer-first approach. Vineet Sharma highlighted that improving convenience for cash-on-delivery transactions could significantly impact the market. Nitin Jain likened Zomato’s evolving features to those of Amazon, suggesting that the company is becoming a major player in logistics and delivery.
Stock Market Impact
Following the announcement, Zomato Ltd’s shares saw a notable increase, closing 6.89% higher at ₹266.15 after the market session on Wednesday, up from ₹249 the previous day. This positive market response underscores investor confidence in Zomato’s latest feature and its potential to enhance customer satisfaction.
