The coronavirus pandemic has affected each kind of industry, and the food industry is not different in the situation. Due to social distancing, every restaurant has been forced to shut the dine-in facility. We can say alternatively it has forced the food industry to operate online and make online delivery systems a core business area. Despite the restrictions, the revenue from the online food industry is expected to hit USD 13,988 million by the year 2022 as per the reports of Statista.
It is a surprising fact that the number of online food delivery users is anticipated to touch USD 529.2 million globally by the year 2026. That clearly shows how customers are stepping into online food purchases, which are shaping the food industry completely. Online payment solutions such as UPI payment, etc., are boosting the revenues of the online food delivery companies.
Here in this article, we are going to discuss how online payments are changing the food industry in India.
Ways in which Online Payments are Changing the Food Industry
Since mobile payments are very convenient for users, it is gaining very much popularity due to their easy accessibility. Below are the top reasons how online payments are changing the food industry.
- Online food delivery– Online delivery apps such as Zomato, Swiggy, UberEats, Mojo Pizza, have opened a large platform for customers to order online from their well-designed websites and mobile apps, wherein everyone can select anything from the menu and order instantly. It’s an effective and new way for restaurants to expand their business. Users can now pay and track their orders online and can get online customer support from the company.
- Processing speed is very high– There are many payment gateways in India available with mobile money solutions that a business can use to operate its functions speedily. The restaurants can use its huge backlog of invoicing and payment receiving. Not only this, online payments are environmentally friendly under which no paper procedure is required to order food and take deliveries. Payment partners like Zaakpay are offering 100+ options for your customers to pay as per their preference.
- Anyone can book dine-in tables online– With the help of digital payments, customers can easily schedule a dining table in their favorite restaurants. Apps like Zomato and Swiggy offer table reservations to customers that help them to reserve their tables in their busy schedules and don’t have time to physically book the tables. People who want to have urgent meetings are benefitted from these effective features, and restaurants that want to fill their spaces to increase their sales are also benefiting due to this facility.
- Keeping the customers up to date– Restaurants provide their customers with a live order tracking system to check the exact time of delivery and location of the order. In addition to this, restaurants offer useful information such as cashback, offers, discounts, application updates, and newly added features. Online food delivery companies send multiple creative notifications to their users via email or text to increase their growth.
- Ease in payments– When a restaurant ties up with a payment partner like Zaakpay, it can offer a large variety of payment methods apart from traditional methods of Debit/Credit Cards. As per the research studies, it is shown that a UPI payment is the most used method by online customers in the food industry in India. For security reasons also, the customers are now using methods such as eWallets which is a secured way to do online payments.
- Analysis of real-time data– If a food service company uses online payment solutions, then it’s much easier for them to track their revenue, profit, customer acquisition, and retention. They can check and analyze how they should take further actions using the analytical reports generated online from online billing software.
- Protection from contamination– The WHO has issued precautionary measures such as masks, sanitizers, social distancing, and due to that people don’t eat outside. They can easily order online and safely get the delivery. This is how online payments have protected many people from contamination.
- Customers can pay tips to delivery executives– Customers can directly pay tips to delivery executives using their mobile wallets. It has become much easier to pay what you wish as there is no interference from the restaurants. It has also encouraged staff to get the work done faster and deliver to the customer. This helps to make a better customer retention ratio and increase the restaurants’ sales.
- Better sustaining of the customer– It is costly to acquire a new customer than to retain the same old customer. Restaurants can use better technology to attain the customer’s trust using their online payment and integrate customer loyalty programs. They can create a user’s community for the same old customer with attractive tactics such as offers, discounts, no delivery charges, special offers, fun games, etc. With the help of this, they can test which customer is truly loyal and give them exciting offers. This strategy helps the restaurant companies to retain the customer effectively. Also, they can promote their business using this strategy and boost their sales.
Online payments are helping the food industry by helping them with better customer management. The restaurants can conveniently manage all of their payments faster and easier. It has allowed the customers to try new things as per their comfort and due to this, they are frequently ordering huge quantities of food. Zaakpay’s payment gateway and payment link are one of the best payment gateways in India that boost up your sales by receiving payments from customers anytime and anywhere across India. Its payment gateway runs at a 3-step model where your customer only has to authorize, get notified, and transfer funds.