foodpanda Partners with Fiserv to Enable More Streamlined and Secure eCommerce Payments Across Asia

foodpanda Partners with Fiserv to Enable More Streamlined and Secure eCommerce Payments Across Asia

Leading local delivery platform foodpanda leverages global acquiring capabilities from Fiserv to support its business expansion

SINGAPORE, October 23, 2024 - Fiserv, Inc. (NYSE: FI), a leading global provider of payments and financial services technology solutions, today announced a strategic partnership with foodpanda - a subsidiary of Delivery Hero and one of the world's leading local delivery companies. This strategic partnership, which was a competitive takeaway, will span across online, mobile and digital wallets, positioning Fiserv as foodpanda's primary acquirer in Singapore and Hong Kong.

Demand for online delivery services in Asia Pacific is anticipated to expand at a CAGR of 10.52% from 2024 to 2029. Anticipating this market growth, foodpanda sought an end-to-end eCommerce payments processor with proven capabilities to support its business across multiple markets expansion plans.

Leveraging the expertise in large-scale payment processing of Fiserv, extensive global footprint, and secure acceptance of multiple payment methods, foodpanda will be able to streamline the complexities of payments across its global footprint, allowing the firm to achieve better operational efficiencies and grow.

Fiserv is helping foodpanda enable faster, more streamlined eCommerce payments across multiple markets, starting with Singapore and Hong Kong. The solution has helped foodpanda scale and roll out payment solutions backed by global expertise and adapt to local nuances with minimal integration complexity and time to market.

Suhaib Khanyari, General Manager for Fiserv in ASEAN and North Asia, said, "As eCommerce transactions are set to increase significantly over the next few years, it is essential to provide our customers with the ability to securely accept the most relevant ways to pay - from anywhere, and at anytime. Our global acquiring platform and expertise enable major eCommerce platforms like foodpanda to deliver in-demand features while enabling a frictionless payment experience, and optimising processes by unifying reporting, billing, and settlements."

Fiserv eCommerce solutions adhere to the security standards set by the Payment Card Industry Security Standards Council (PCI SSC), a global authority that develops and promotes data security standards for secure payments worldwide. Leveraging a PCI DSS-certified platform, foodpanda can efficiently handle high-volume transactions while ensuring the highest standards for data security. The platform also provides secure, 24/7 data retrieval with strict access control, simplifying reconciliation and accounting processes. As a result, foodpanda can better manage critical business data for reporting and insights.

"foodpanda saw a 30% rise in bill sizes for food delivery compared to 2021 - signalling increased consumer willingness to spend more on on-demand services. With our growing presence, it is crucial to future-proof our operations to accommodate further growth while strengthening our ability to enter new markets. Partnering with payment providers like Fiserv to streamline our payments processing allows us to focus on what matters our customers, vendors, and riders, the heart of our ecosystem. We want our customers to keep coming back to the service and delectable experience we create." said Abhishek Sahay, Senior Director, Enterprise, Fintech & COO Office, foodpanda.

The enhancements will first roll out in Singapore and Hong Kong, with plans to implement in other markets in future.

About Fiserv

Fiserv, Inc. (NYSE: FI), a Fortune 500 company, aspires to move money and information in a way that moves the world. As a global leader in payments and financial technology, the company helps clients achieve best-in-class results through a commitment to innovation and excellence in areas including account processing and digital banking solutions, card issuer processing and network services, payments, e-commerce, merchant acquiring and processing; and the Clover® cloud-based point-of-sale and business management platform. Fiserv is a member of the S&P 500® Index and has been recognized as one of Fortune® World's Most Admired Companies™ for 9 of the last 10 years. Visit fiserv.com and follow us on social media for more information and the latest company news.

About foodpanda

foodpanda is a leading delivery platform in Asia dedicated to bringing consumers a wide range of food, groceries and more, quickly and conveniently. Powered by technology and operational excellence, foodpanda is spearheading the growth of quick-commerce (q-commerce) across the region with its network of retail partners, as well as pandamart cloud stores to provide more on-demand options beyond the millions of food delivery options. foodpanda operates in more than 400 cities across 11 markets in Asia - Singapore, Hong Kong, Thailand, Malaysia, Pakistan, Taiwan, Philippines, Bangladesh, Laos, Cambodia, and Myanmar. foodpanda is a subsidiary of Delivery Hero, a global leader of the food delivery industry. For more information, visit www.foodpanda.com.

Media Relations:
Chase Wallace
Director, Communications
Fiserv, Inc.
+1 470-481-2555
[email protected]

Released October 23, 2024