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Home Careem and Noon cut fees in bid to disrupt Middle Eastern food delivery Careem and Noon cut fees in bid to disrupt Middle Eastern food delivery Moves come as food outlets in the region complain of high commissions from delivery platforms World Economy News 7 Feb 2021 • 2 min read Two of the Middle East’s biggest food delivery operators are slashing the high commission costs criticised by struggling restaurants in a bid to disrupt the region’s $3bn market. Careem, the ride-hailing app acquired by Uber for $3.1bn in 2019, said it would replace percentage-based commission with a new fixed monthly charge for merchants on its application, which spans ride-hailing, food delivery, shopping and bike rental. ....
Careem introduces commission-free model for UAE restaurants UAE-based super app Careem, has introduced a commission-free model for its restaurant partners in a step to relieve the economic impact of the Covid-19 crisis on UAE- based local eateries according to the company. The new model replaces the percentage-based commission that food aggregator apps conventionally charge with a monthly subscription fee, a model adopted by UAE-based Chatfood. According to the company’s release on Tuesday, the move comes at a time when restaurants are struggling with high commissions imposed by food aggregators and food delivery apps, which tend to charge commissions as high as 30-35 per cent per order. ....
How fintech innovations are helping the unbanked across the GCC 0 Comments Get daily business news from the region delivered straight to your inbox I agree to the terms and conditions SIGN UP How fintech innovations are helping the unbanked across the GCC As societies adopt more digital payment tools, it is important to bring along the 25 million locally who are still living in cash mode by Padmini Gupta December 31, 2020 Covid-19 has been a massive global disruptor on the way we live, work, eat and shop. But a common thread across all these aspects has been the massive decline in cash usage. Indeed, in some countries like the UK and Italy, ATM withdrawals fell by 60-90 per cent in the early days of the pandemic. Although they have now recovered, for the UK they are still 35 per cent down from the past year and the CEO of the largest ATM operator in UK has said that cash machines may disappear altogether in the coming years. ....