The crisis caused by the coronavirus, while negatively affecting business, boosts others. This is the case of the delivery companies, which have recently seen a rise, mainly due to the recommendations of social isolation.
To give you an idea, according to an article published by Exame - a Brazilian business and economy magazine - Rappi has recorded a 300% increase in the number of orders within the Brazilian market. To deal with this sudden increase, the demand for partnerships with new delivery companies arises. iFood, for example, increased its market share by 23,000 from February to March, also in Brazil.
The dynamics of the market generates a two-way movement to form this partnership: on the one hand, applications need new professionals to meet the demand for orders. On the other hand, we see a movement of people who lost their jobs due to the crisis and need a new source of income.
It's hard to know how this momentum will behave and what will be the impact in the delivery market around the world. But I have a feeling that changes in consumer habits should permanently affect the overall app figures.
Payment to delivery companies
In orders placed on both iFood and Rappi apps, there was an increase in the amount and value of tips given by customers to deliverers. In March alone, for example, R$ 735,000 in tips were paid through the iFood app. On Uber Eats, according to data published in Veja São Paulo, the value of tips increased 170% from the former to the second half of the same month.
With these sharp rises, both in the number of deliverers and in the value and quantity of tips, these companies must organize themselves as to the payment of these professionals.
The validation of bank data is important in this scenario
In addition to automating payments to delivery companies, the validation of bank data is very crucial to ensure that the flow occurs smoothly. With this validation, many inconveniences generated by invalid bank data are avoided.
Now, imagine iFood's scenario: manually validate the data for the 23,000 new delivery partners. Besides being unproductive, it prevents the company from focusing on its core business.
In the cross-border payments industry, errors in bank details are all the worse, as the solution to an unsuccessful payment is much more complex.
This is where the need to partner with companies like WePayOut arises. We are specialists in processing corporate payments for employees, suppliers, and service providers.
At WePayOut, besides carrying out the complete process of cross-border inbound payments, we also offer the tool for validating bank accounts at three levels:
Validation: the account number sent by the beneficiary is checked, and the digit is calculated and corrected;
Systemic + payment: We send a payment of R$ 0,01 to verify the authenticity of the account;
Manual: as a last resort, we make the manual analysis of the banking and Individual Taxpayers' Registry (CPF) data that could not be checked during the previous steps.
These steps generate more than 90% of the payment conversion rate. Also, the response time for these steps is much shorter than using manual analyses.
The cost-benefit of this tool is immeasurable since it dramatically reduces the number of delivery couriers complaining about unreceived payments. Not to mention the risk of damaging the delivery company's reputation regarding problems in the payment process.
Equally important is the validation of bank data, to a lesser or greater extent, for all companies that need to make numerous monthly or even weekly payments, or those that have a huge inflow of new beneficiaries.
In short, this validation generates more approved payments, higher beneficiary satisfaction and more time to focus on what really matters - your business.
Now may be the time to test new solutions and increase the conversion of cross-border payments.
Contact us for a demonstration of the tool.