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Lower food delivery transaction fees for F&B merchants in UOB-Getz tie-up
UNITED Overseas Bank (UOB) and Getz, a food and beverage (F&B) payment and ordering platform provider, have tied up to provide merchants with lower food delivery transaction fees and marketing.
Under the collaboration, F&B merchants using Getz’s food delivery solution will only need to pay transaction fees capped at a maximum of 4 per cent of their online sales – a discount of up to 50 per cent from Getz’s usual rates.
For F&B merchants without an online presence, UOB and Getz said that the tie-up will also enable them to set up an online store, complete with digital payment capabilities, in less than a week.
UOB will also support F&B merchants using Getz’s solution with marketing efforts, by featuring them on the bank’s The Dining Advisor online marketplace. The online site attracts more than 43,000 visitors monthly, according to UOB. (see amendment note)
The bank will also offer its cardmembers promotional codes to order from those merchants, to help them attract and retain customers.
Melben Seafood Restaurant's second-generation owner, Sylvester Soon, who is using Getz's platform, said: "While the economy has re-opened gradually, my experience during the "circuit-breaker" period highlighted the importance of having an online sales channel to increase my business’ resilience.
"Through Getz’s solution, I was able to double my online sales, thus helping to minimise the impact of the 'circuit breaker' on my overall sales revenue. I was also able to manage my online food orders and the delivery processes efficiently and easily."
Savings from the UOB-Getz tie-up will make "a big difference" in ensuring that offering food delivery options remains profitable for Melben Seafood. It will also boost the restaurant's marketing efforts, Mr Soon said.
Amendment note: An earlier version of this story stated that the online site attracts more than one million diners monthly. UOB has since clarified that the site in fact attracts more than 43,000 visitors monthly.