Swiggy, India’s largest and most valuable online food ordering and delivery platform, has launched its own payment wallet – Swiggy Money. According to the latest notification in its terms of use – Swiggy assured that the wallet will only be used to credit amounts for the canceled orders at the moment.
- The Cashback Guarantee* on On-Time Delivery is applicable only on online payments (ie., payments made through Net Banking, Credit/Debit cards, Electronic Wallet Services, and Swiggy Money) & Swiggy Assured restaurants and you shall be duly notified upon confirmation.
- The cashback amount will be credited to Swiggy Money only and not to any other source that you may have used to make such payment.
As of now, the wallet function is still missing from the payments section of the Swiggy app and only the frequently asked question (FAQs) related to Swiggy Money is updated on the platform. The wallet service has been launched in partnership with ICICI bank. Additionally, the company claims that the wallet service complaint to the norms laid down by the Reserve Bank Of India for prepaid payment instruments.
Swiggy Money wallet currently does not support top-ups. It will also add credits for late deliveries in case of a failed on-time delivery order. The wallet service has been launched in partnership with ICICI bank
Swiggy was founded in 2014 by Nandan Reddy, Rahul Jaimini and Sriharsha Majety. The company is currently valued at more than $3.3bn.
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