Delivery Hero worked together with HSBC to develop and implement an innovative process that could instantly trigger and reconcile requested payment amounts based on application programming interface (API) connectivity for payments.
Payment requests initiated by the riders on the Foodpanda app are now transmitted to HSBC through API, which are received and processed in seconds. Requested payment amounts are then disbursed via Singapore’s Fast and Secure Transfers (FAST) clearing channel, which credits funds to riders’ accounts in just a matter of minutes. Payment acknowledgements are also sent back via API to Delivery Hero’s systems for near-instant reconciliation. Overall, this accomplished the automated, near-instant payment and reconciliation process Delivery Hero needed to support on-demand payments to riders.
"We are proud to support Delivery Hero’s remarkable growth at group level, and its foodpanda subsidiary in Asia. We help the business to understand the local regulatory and commercial environment, and digitise its payment and collection solutions to drive its q-commerce ambitions.”
Winnie Yap, Head of Global Payment Solutions, HSBC Singapore