Takeaway.com launches Takeaway Pay to replace the canteen

Takeaway.com N.V. (AMS: TKWY), hereinafter the “company”, or together with its group companies “Takeaway.com”, the leading online food delivery marketplace in Continental Europe and Israel, has launched a new service called Takeaway Pay. The service allows corporates to provide employees with meal benefit plans, encouraging these employees to order their lunch or dinner with Takeaway.com’s delivery restaurants. Takeaway Pay is immediately available in all countries in which Takeaway.com is active.

Comment from the CEO, Jitse Groen: “Takeaway Pay is a gamechanger for Takeaway.com. While we have historically mostly grown on the back of a channel shift, essentially shifting consumers from the phone to the internet, we can now also provide a fantastic service to corporate customers. We expect that this new service will increase the order frequency of our nearly 17 million customers, as it encourages for a more daily use of our platform.”

Takeaway Pay is the implementation into the Takeaway.com platform of the 10bis corporate solutions product. 10bis was acquired by Takeaway.com late last year and already serves thousands of corporations, representing hundreds of thousands of employees. To further develop Takeaway Pay, Takeaway.com established a tech hub in Tel Aviv.

With the launch of Takeaway Pay, an important step has been made to unlock the B2B opportunity in existing Takeaway.com markets. Users of 10bis order on average approximately 85 times a year, whereas B2C returning active consumers in Takeaway.com’s European markets order on average around 12 times a year. Management believes that Takeaway Pay, due to Takeaway.com’s high number of active consumers and restaurants, and especially in combination with restaurant delivery service Scoober, will effectively increase the order frequency of its 16.7 million consumers.

Companies can assign budgets to individual employees or groups, with specific limitations, such as weekdays or timeslots. With these budgets, employees can order food which is paid by the employer. The system removes complicated expense processes and companies receive one invoice at the end of each month. It also integrates with HR and accounting systems. In addition, cost savings can be realised by replacing expensive canteens while at the same time increasing employee satisfaction by providing access to a much broader range of cuisines from the nearly 50,000 restaurants connected to the Takeaway.com platform.