‘Swiggy Money’ Launched To Facilitate Food Order Transactions

Swiggy today launched its own digital wallet - 'Swiggy Money'. ICICI Bank has also partnered for this new initiative of the food delivery platform and through which users will get "one-click" checkout. Now users do not have to rely on other apps like Paytm, PhonePe to pay the order. Like a mobile wallet, Swiggy Money can save a certain amount of money that can be used to order food.

How To Activate Swiggy Money

Users can now activate Swiggy Money by going to their Swiggy app account. First tap the Swiggy Money option and will show an Activate Swiggy Money button and then you have to click on it after agreeing to the Terms and Conditions of Service. After that, it will have a form asking for your personal details like name, date of birth and an official ID and after filling up you can enable wallet.

ICICI Bank customers can instantly start with an integrated wallet, while non-ICICI customers need to provide any official ID to avail the Swiggy Money wallet facility.

How Effective

With the arrival of Swiggy Money, the customers will be able to order the food very easily. No hassle of third-party payment now. There is an option called 'Split-Pay' which allows users to make payments using both Swiggy Money Wallet and any other payment source together. With the new service, customers will get instant refunds.

For now, customers will be able to use the Swiggy Money Wallet service for swiggy restaurant orders. However, it will soon be available for ordering at Grocery, Genie.

Swiggy 's new move is expected to compete well against Zomato. This is because Zomato supports a variety of payment methods but does not have its own wallet for payments. On the other hand, Amazon will compete with Swiggy as Amazon has recently started the food delivery service and has its own digital wallet Amazon pay. Also, it will be a tough fight for payment providers like Paytm and MobiKwik as they have been working as Swiggy payment providers for so long.