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Category: Startups

Retail News Asia is committed to providing both local and global retailers with the latest Startup news throughout the Asian market. This on a daily base.

  • Grab Grows Suite of Financial Products

    Grab Grows Suite of Financial Products

    The platform is launching new products, which include a micro-investment solution, a third-party loan platform and a buy-now-pay-later service for purchases with e-commerce partners.

    The finance arm of Singapore-based ride-hailing and payments firm Grab has rolled out a new strategy to expand its consumer services ecosystem and «empower individuals to grow their personal wealth, manage their finances and protect what they value,» the firm announced on Tuesday.

    Thrive With Grab brings an expanded range of new lending, wealth, and insurance products, with which it hopes to tap into Southeast Asia’s vast mass market financial services opportunity.

    By offering innovative micro-transaction-based financial services, convenient financial management tools and access to products from leading global financial institutions, we hope to unlock the tremendous potential in financial services in the region in ways that serve all Southeast Asians,» Reuben Lai, senior managing director, Grab Financial Group (GFG), said.

    Grab will be pushing into retail wealth by focusing on accessible, convenient, and transparent investment products and solutions while broadening its wealth management offerings that feed into its goal of strengthening its open fintech ecosystem, Lai said at a media briefing ahead of the launch on Tuesday.

    The company will also provide customers with opportunities to invest in products and solutions traditionally limited to affluent individuals and institutional investors, Lai said, adding that Grab will also launch a series of financial education programs to help users make more informed in financial decisions.

    Following its acquisition of wealth management platform Bento earlier this year, Grab will roll out micro-investment solution AutoInvest in September, which allows users to invest as they spend with their everyday Grab transactions from S$1 ($0.73), and invest from their wallet balance to earn returns of about 1.8 percent per year, which can then be cashed out directly to their GrabPay wallets.

    Lai also noted the growing demand for online consumer lending, citing research from Boston Consulting Group that shows that more than one-third of Southeast Asian consumers are willing to shift some banking activities, such as loans, too non-banking platforms.

    To meet this demand, it is launching a third-party consumer loan platform, starting in Singapore, before expanding to Malaysia and other countries. Consumers will be able to apply for personal loans offered by bank partners directly within the Grab app.

    GFG will also expand its buy-now-pay-later line of offerings by launching PayLater Instalments and «PayLater Postpaid» on select e-commerce sites in Singapore and Malaysia in October, and launch its first hospitalization insurance plan for consumers in Indonesia.

    The company laid off 5 percent of its workforce in June, which founder and CEO Anthony Tan said would help it better face the challenges of a post-Covid economy. He also said the strategic roadmap for Grab Financial, which is a «long-term bet for the future,» remains unchanged.

    Grab is also part of a consortium with Singtel that has applied for a digital banking license in Singapore.

  • Deliveroo Launches Breakfast Service and Makes Multi-million-dollar investment in Pickup Services

    Deliveroo Launches Breakfast Service and Makes Multi-million-dollar investment in Pickup Services

    With the government’s announcement to ban all dine-in services at restaurants beginning Wednesday, 29 July, Deliveroo is today redoubling its efforts to support both customers who want great food and restaurants who need to make sales with the launch of breakfast service. Early-morning risers who are working from home can now access a wide range of eats within their neighbourhood, while those still heading to the workplace can order directly to their desk or conveniently pick up a morning meal on their commute. The food delivery company also announces today that customers will continue to enjoy a 20% discount for all Pickup orders in selected restaurants for the next two weeks starting tomorrow (29 July). This follows the company’s recent announcement of reducing restaurant Pickup commission rates to 3% until the end of September, extended delivery until 11:30pm and activation of the “Here to Deliver” campaign.

    Customer demand for delivery and pickup meals is on the rise following the latest announcement from the Hong Kong Government that will ban all dining in restaurants as of Wednesday, 29 July. To support restaurant partners and hungry customers – across the city, many of whom are now once again working from home, Deliveroo has launched its breakfast service. Available from today, customers will now be able to order from 7:45am during weekdays and 9am at weekends on the Deliveroo platform, for both delivery and pickup. Participating restaurants are expected to increase total revenue by 10% with breakfast offering through Deliveroo’s platform.

    Deliveroo has recently made a 8-digit investment in its Pickup service to help more restaurant partners and consumers enjoy an affordable and convenient “grab and go” service that puts safety at the forefront. The service enables customers to order ahead for pickup and therefore avoid waiting times, skip the queue, and do their part to practice social distancing.

    In July, Deliveroo has worked with its restaurant partners to offer over 7,000 restaurant promotions to consumers, with an aim to help restaurants increase revenue and attract new customers. The food delivery company has also activated its “Here To Deliver” campaign, investing in a multi-channel mass marketing plan to help restaurants reach their target customers, helping them let customers know they are still operating for delivery and pickups.

    Over the next few weeks, customers will be able to find over 2,000 discount offers on the platform at any given time for both Pickup and delivery.

    Brian Lo, General Manager of Deliveroo Hong Kong said, “To say the past two weeks have been difficult for Hong Kongers would be an understatement; that’s why we’ve been working on new ways to support everyone – from our riders, to our restaurant partners, to all our Hong Kong customers. Deliveroo has opened up more work for riders to help meet rising demand due to work-from-home conditions and provide flexible work and attractive earnings at this difficult time for many. We’re supporting restaurant partners with relief measures for both deliveries and pickups during the Wave 3 outbreak. We continue to see higher and growing traffic on our platform, therefore we worked with our partners to extend the current discount to customers for both Pickup and delivery, hoping to offer more affordable food options with exciting discounts to encourage Hong Kongers to stay home and stay safe – from breakfast all the way until dinner.”

    Deliveroo Pickup service has already supported restaurants in Hong Kong to generate new revenue at a tough time for business. Deliveroo’s recent relief measure of providing a significant discount on all Pickup orders over the past few weeks helped restaurant partners to bring in over HK$50 million incremental sales.

    Susanna, Owner of KAIE Japanese Restaurant, said, “With the worrying situation of the recent Covid-19 local spike, this has been a very difficult time for us; especially with the further government policy on social distancing. We have to shift all of our efforts towards  food delivery and takeaway now, and thanks to Deliveroo’ s support especially over the past weeks, we have seen a 300% increase in Pickup orders.”

  • First Deliveroo-owned Virtual Brand “Wing It” Launches in Hong Kong as virtual brands boom

    First Deliveroo-owned Virtual Brand “Wing It” Launches in Hong Kong as virtual brands boom

    Deliveroo, Hong Kong‘s leading food-delivery company, has today announced the arrival of “Wing It,” a virtual chicken wings brand developed and tested by the Deliveroo team in London. Renowned for bringing unique F&B concepts to the local market, Deliveroo selected Hong Kong to be the first place outside the UK to experience the Wing It brand. Wing It is licensed by Deliveroo to Cali-Mex Bar & Grill. Already eager to add wings to their menu offerings, Cali-Mex was impressed by Deliveroo’s concept and excited to launch the virtual brand from eight outlets as well as a specially designed catering menu.

    Wing It is the latest non-brick-and-mortar food brand to be offered by Deliveroo, which is now home to over 300 virtual brands – bringing even more variety and delectable choice to hungry people in Hong Kong.

    Always the trendsetter, Deliveroo is bringing Wing It to Hong Kong after two years of tremendous success in the UK. Beginning its operations in London, the menu, ingredients and recipes for Wing It were all developed by the Deliveroo central team, who then launched the brand inside six of Deliveroo’s UK Editions sites in September 2018. Due to the immense popularity and growing demand for new options, Deliveroo then helped Wing It develop and open five separate restaurant sites outside of Editions just six months later, in April 2019. Now, already a smash hit in Hong Kong, Wing It has sold over 15,000 wings, following 1,000+ orders across its eight Hong Kong outlets since soft launch in May.

    Deliveroo is dedicated to working with partners to build and develop their own unique virtual brands, as well as nurturing new business opportunities by hosting Deliveroo’s own virtual brands.

    When Deliveroo helps a partner to develop a Virtual Brand, it does so from scratch, developing everything from its name to recipes for its menu items. For partners, the company will provide:

    • Exact recipes for specific items
    • Ingredients to use for specific menu items and how to source them locally
    • A training package for restaurants to run the brand and help in scoping out how the brand can be run from a specific kitchen
    • Stress testing the product once launched to test food quality and the delivery service
    • Branding and marketing support
    • Identifying cuisine gaps in a specific area based on the company’s data insights, as well as advising on price points for specific items

    Virtual kitchens are developed to provide Deliveroo’s high-value partners with a turn-key solution to grow revenue streams from their kitchens, with brands that have been proven and tested by Deliveroo’s experts, within the delivery-only brand development team.

    Brian Lo, General Manager of Deliveroo Hong Kong, said, “There has never been a more important time in Hong Kong to support our restaurant partners and introduce innovative new concepts to the city, as we overcome the recent challenges together. Collaborating with Cali-Mex was a no brainer for us – our new partner has inspired us with their drive to deliver high-quality dishes in Hong Kong. We’re proud to work alongside them for this exciting new venture. As a life-long Hong Konger, I know first-hand the city’s love affair with well-prepared and delicious chicken wings, so this was certainly an exciting project to be a part of!”

    Jeff Moss, CEO of Cali-Mex Bar & Grill, said, “While Cali-Mex has offered Hong Kongers an expanded menu for some years now, we’re always eager to grow and whip up new offerings that we believe will match the taste palates of our customers. The past few months have forced us to rethink how we can offer an even more varied and delicious dining experience, so when Deliveroo approached us to partner with them for a virtual brand, we were sold almost immediately. We believe that no matter what the occasion is, wings always seem to be the answer! We are impressed by the initial results since the soft launch in May and we’re excited for the upcoming marketing and promotion campaigns as well as the catering offering to bring us to the next level.”

    Already reaching sales numbers of over 15,000 chicken wings, Deliveroo expects to see an ongoing surge of orders in coming weeks, as the food delivery leader works alongside Cali-Mex to develop an exciting array of promotional and marketing strategies. Wing It is the latest among 100 different virtual brands to launch this year on Deliveroo’s app, adding to the existing 200 virtual brands on offer.

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  • Deliveroo Partners with the 1st Virtual Insurer to Provide Special Medical Benefits to Deliveroo Riders and Their Families

    Deliveroo Partners with the 1st Virtual Insurer to Provide Special Medical Benefits to Deliveroo Riders and Their Families

    Committed to always finding new ways to support riders, who are at the heart of the business, Deliveroo announces today a partnership with Hong Kong’s first virtual insurer  Bowtie who will offer BowtieGo healthcare membership plans to 6,000 Deliveroo riders and their families, starting at zero cost. As rider health and safety are among Deliveroo’s highest priorities, the move follows recent efforts to provide riders with free COVID-19 testing, education opportunities and accident and injury insurance coverage which has been arranged and administered by Marsh since 2018.

    All Deliveroo riders and their families can now enjoy medical benefits  designed with three unique healthcare plans with basic coverage starting at $0. Supported by Bowtie, the entry-level healthcare programme is free of cost to riders and offers  member’s exclusive rate on unlimited GP consultations and Chinese Medicine doctor visits (medicine, acupuncture and bone setting). For an additional monthly fee, riders can also select an insurance plan which will allow them to access outpatient and dental treatments at discounted rates with the option to also receive a free annual body check.

    Brian Lo, General Manager, Deliveroo Hong Kong, said: “Having spoken to our riders and listened to their feedback, we know healthcare matters to them and so it matters to us. We knew it was the right time for us to further our efforts in helping our riders to access more health benefits. Bowtie will offer comprehensive and unique benefit packages that will keep our riders and their beloved ones healthy and protected.”

    In Hong Kong, all Deliveroo riders are already automatically enrolled into a completely free insurance package covering accident and injury which is arranged and administered by Marsh. To add on that, this additional medical benefits to Deliveroo Riders, follows a number of recent initiatives from Deliveroo to better riders’ on-the-job experience, earning potential and wellbeing. This April, Deliveroo introduced the Rider Academy in Hong Kong to offer over 700+ free online courses for riders and their families, as well as free COVID-19 testing with Project Screen by Circle. Additionally, Deliveroo provided free masks and hand-sanitisers to riders in Hong Kong earlier this year.

     

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  • Singapore startup opening ghost kitchens globally

    Singapore startup opening ghost kitchens globally

    Singaporean food tech firm TiffinLabs is creating an international network of ghost kitchens based in more than 1000 locations across the US, Europe and Asia.

    The move is designed to take advantage of the rapid global transformation and growth of the online food-delivery market, with the kitchens rolling out progressively from the last quarter of this year following 12 months of negotiations.

    According to material released by the firm, the traditional restaurant industry – largely structured for dine-in – has led to a mismatch between customer demand and the supply of cuisines due to current production capability. TiffinLabs’ solution, focused on creating cuisines linked to consumer needs, is an attempt to innovate in the food delivery and restaurant industry in reshaping the business model and tapping new growth opportunities.

    TiffinLabs currently operates nine digital-first restaurant brands out of its kitchens in Singapore, including Publico Pastabar and Hureideu – Korean Fried Chicken, as well as soon-to-be-launched Singapore Makan.

    “Singapore is known globally for its quality standards and as a food lover’s paradise, with its wide mix of local and western foods,” said Tiffin Labs founder & chairman Kishin RK, “and TiffinLabs looks forward to sharing this globally.”

    TiffinLabs will leverage its AI-driven kitchen operating and management system across its network to deliver an international menu from digital-first restaurant brands, with a potential reach of more than 15 million households. The team also harnesses data analytics to identify food trends and changing consumer preferences while optimizing its supply chains with local smart kitchens to fill gaps in delivery zones.

    “What customers get when they order food for delivery is dramatically different from a dine-in experience,” said Kishin. “By enabling over 1000 kitchens for delivery-focused operations globally, we are making food ordering relevant for the future, at scale. In the next three years, we see two very different winners in this space – the local niche specialty cuisine player that can create value through distinction for a specific segment of the market.

    “The other will be global delivery businesses which will scale brands and menus with suppliers and delivery platforms and invest in innovation specifically to create food for delivery, reinventing customers’ experience of in-home dining.

    “As someone who has been in this industry for the last 10 years, I strongly feel that the value of real estate and the monetization capability of its adjacent business models will be determined by how well it integrates into the digital economy. Our business aims to help all players in the food industry tap into the growth of this sector.”

    The online food delivery market is expected to more than double to US$200 billion by 2024.

  • Deliveroo Hong Kong launches plan to feed the needy

    Deliveroo Hong Kong launches plan to feed the needy

    Deliveroo has unveiled a new program allowing customers to round up payments for their orders to feed people in need. Deliveroo will collect the donations made via its app to selected charities, starting with local NGO Feeding HK.

    “One of the most challenging effects of Covid-19 has been a significant rise in demand from charitable food systems across Hong Kong,” said Deliveroo Hong Kong GM Brian Lo. “One of our imperative sustainable development goals at Deliveroo is ‘Zero Hunger,’ in line with the United Nations Sustainable Development Agenda, and so together with Feeding Hong Kong, we’re trying to make sure that no one in Hong Kong goes unfed.”

    Feeding HK collects surplus stock from food companies, sorts and stores it, before redistributing it to multiple charities across the city.

    The company’s support for Feeding HK expands beyond its cash contribution initiative. Until the end of this year, Deliveroo will contribute 100 hours of volunteering by its employees to help rescue and redistribute surplus food to help frontline charities across the city.

    The company hopes to raise more than US$129,000 (HK$1 million) during the next six months from the app.

    “Deliveroo is dedicated to being a positive member of the Hong Kong community, which includes making sure that the economically disadvantaged get the help they need,” said Lo.

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  • Gojek Consolidates to Focus on Core Services

    Gojek Consolidates to Focus on Core Services

    The company is laying off 430 staff – 9 percent of its workforce – to prioritize its core businesses of payments, transport, and food delivery. Southeast Asian on-demand multi-service platform and digital payment technology group Gojek will be shuttering several non-core services that have been impacted by the pandemic and will streamline the company structure for future growth and sustainability, the company said in a statement on Wednesday.

    The layoffs will be Gojek’s only Covid-19 related layoffs, the statement said, noting that many of the 430 staff leaving are from its GoLife and GoFood Festivals businesses that will be closed, owing to a «significant downturn over the past few months as the COVID-19 pandemic has affected consumer habits.»

    Focusing on our core services, shutting down verticals that are no longer viable during this period, and making bold bets on changing customer needs will ensure that we continue making a positive impact on the lives of millions of people while securing future growth, co-CEOs Andre Soelistyo and Kevin Aluwi said in an internal email sent to staff.

    Launched in 2011, Gojek has been expanding its ride-hailing platform to include a range of on-demand services and allow its customers to make online payments and has been beefing up its coffers to take on regional rival Grab, with a focus on supporting payments and financial services in the region.

    In March, Gojek completed a $130 million deal for Jakarta-based mobile point-of-sale (POS) market leader Moka, making it a major player in Indonesia’s digital payments space. It’s Gopay platform has focused on increasing access to the digital economy among micro, small and medium enterprises, the majority of which continue to rely on cash to operate.

    In June, Gojek announced that Facebook and PayPal had joined as investors in its current fundraising which has reached almost $3 billion and also includes Visa, Tencent, Google and more. As part of the agreement, PayPal’s payment capabilities will be integrated into Gojek’s services and the two companies will also collaborate to allow customers of GoPay, Gojek’s digital wallet, to gain access to PayPal’s network of merchants globally.

    The news follows Grab’s announcement on 16 June that it would be letting go of 5 percent of its workforce as part of plans to become a leaner organization to better face challenges of a post-Covid economy. Founder Anthony Tan said the strategic roadmap for Grab Financial, which is a «long-term bet for the future,» remains unchanged

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  • Deliveroo Hong Kong launches plan to feed the needy

    Deliveroo Hong Kong launches plan to feed the needy

    Deliveroo has unveiled a new program allowing customers to round up payments for their orders to feed people in need.

    Deliveroo will collect the donations made via its app to selected charities, starting with local NGO Feeding HK.

    “One of the most challenging effects of Covid-19 has been a significant rise in demand from charitable food systems across Hong Kong,” said Deliveroo Hong Kong GM Brian Lo. “One of our imperative sustainable development goals at Deliveroo is ‘Zero Hunger,’ in line with the United Nations Sustainable Development Agenda, and so together with Feeding Hong Kong, we’re trying to make sure that no one in Hong Kong goes unfed.”

    Feeding HK collects surplus stock from food companies, sorts and stores it, before redistributing it to multiple charities across the city.

    The company’s support for Feeding HK expands beyond its cash contribution initiative. Until the end of this year, Deliveroo will contribute 100 hours of volunteering by its employees to help rescue and redistribute surplus food to help frontline charities across the city.

    The company hopes to raise more than US$129,000 (HK$1 million) during the next six months from the app.

    “Deliveroo is dedicated to being a positive member of the Hong Kong community, which includes making sure that the economically disadvantaged get the help they need,” said Lo.

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  • Grab Malaysia sees ‘instant retail’ reducing need for physical stores

    Grab Malaysia sees ‘instant retail’ reducing need for physical stores

    Grab Malaysia is expanding its instant retail service after studying customer demand for goods during the nation’s Covid-19-related social-distancing initiative.

    According to Grab Malaysia MD Sean Goh, many convenience stores and grocery retailers were able to treble their sales using the GrabMart delivery service during the lockdown restrictions. Now, as the country’s retailers are allowed to open their doors again and normal trading resumes, Grab believes more consumers are seeking safe, reliable ways to shop for daily needs without visiting stores.

    “While we saw a clear uplift to safe, instant deliveries for food, drinks, snacks and other essential goods via GrabFood, GrabMart and especially ‘Pasar’ on GrabMart, we see a new challenge for retailers,” explained Goh.

    “The ‘new normal’ will potentially affect retailers who traditionally rely on high foot traffic and walk-ins – from health and beauty retailers, toys, gifts and stationery shops to florists. This is a gap where we believe GrabMart is able to step in and address while helping to make the government’s upcoming Shop Malaysia Online initiative a success.”

    GrabMart was launched last November, before anyone foresaw the emergence of Covid-19.

    Goh said that after the government’s movement controls were put in place, many retail chains signed up to GrabMart, not just in the grocery and food categories, but pharmacies, health & beauty, eyewear, books, stationery and gift retailers.

    He believes this has caused consumers to evolve into ‘on-demand shoppers’ who are already accustomed to using mobile technology for their daily needs, and increasingly expect faster speed and safety for their retail purchases. Grab is delivering most goods from retailers in less than 30 minutes for a charge as low as US$1.20 (MYR5).

    Goh believes the convenience of services like GrabMart and the rapidly increasing adoption of apps by consumers to order online will substantially reshape retailing.

    “It is no longer sustainable for businesses to keep expanding their retail presence to get closer to their customers’ homes. Together, we can realize our nation’s vision for a more robust digital economy as businesses adjust seamlessly to the new norm,” he said.

    “We are excited to expand and help more businesses transition seamlessly to adopt instant retail.”

    Grab Malaysia operates GrabMart in Kuala Lumpur’s Klang Valley, Johor Bahru, Kota Kinabalu, Kuching, Ipoh, Melaka and Penang.

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  • Regional Fintech Startups Open HQ in Singapore

    Regional Fintech Startups Open HQ in Singapore

    Ayannah and Equity Capital Advisors will merge their businesses in India, the Philippines and Indonesia to form Ayannah Global, headquartered in Singapore.

    Philippines-based digital financial services provider Ayannah and India-based payments company Electronic Cash and Payment Solutions (ECAPS) have announced a merger to support their goal of providing affordable and accessible digital financial services to the growing middle class in South Asia and Southeast Asia.

    The new entity will serve over 10 million customers through mobile apps and a growing network of over 60,000 retail touchpoints, Ayannah Global announced on Tuesday. The company caters to underbanked customers in the two regions using a suite of fintech solutions through agent networks for remittances, payments, insurance and loans.

    The group currently operates a rapidly growing remittance and payment business in India and the Philippines, and recently launched Kaya, a digital marketplace connecting middle-class customers and SME entrepreneurs with banks, lenders and insurers in the Philippines and will launch versions in India, Indonesia and Vietnam later this year.

    The company also appointed veteran banker Ray Ferguson as chairman of the Ayannah Global board. Ferguson has over 30 years of banking experience across five continents and has held senior roles in Standard Chartered Bank, including as CEO in Taiwan, Indonesia, the United Arab Emirates, the Americas and Singapore.

    He was also group chief banking officer at Arab Banking Corporation in Bahrain. Ferguson is based in Singapore, where he also chairs digital life insurer Singapore Life. He is also the founding partner of Caber Partners, a Singapore-based fund manager and advisory firm that focuses exclusively on the intersection of finance and technology.

    Ayannah’s new Singapore headquarters will support the company’s expansion plans, talent acquisition, and strategic partnership, the announcement said. It is also targeting $30 million to $50 million in its series B funding round to support its growth ambitions in new markets.

    Widespread smartphone usage across our target markets provides a ripe landscape for a financial inclusion revolution, while the COVID-19 pandemic has accelerated the demand for at-your-fingertips financial services, Praveen Suri, Ayannah Global co-chief executive officer, said.

    The firm is backed by venture capital firms Wavemaker Partners, Golden Gate Ventures, and 500 StartUps, as well as several large family offices across Asia.

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  • Grab expands grocery-delivery service into eight SE Asian markets

    Grab expands grocery-delivery service into eight SE Asian markets

    Grab has expanded its grocery-delivery service GrabMart into eight Southeast Asian markets within the last three months.

    Initially launched in two countries as an on-demand daily essentials delivery service during the Covid-19 pandemic, GrabMart is now available in 50 cities across eight Southeast Asian countries, including Myanmar and Cambodia.

    “Covid-19 has accelerated the adoption of on-demand delivery services across Southeast Asia, and we were able to tap on existing technologies, our extensive delivery network, and operational footprint to quickly scale GrabMart across the region,” said Demi Yu, regional head of GrabFood and GrabMart.

    The delivery company has teamed with more than 3000 stores and supermarkets in the region including FairPrice Xpress in Singapore, Lawson in the Philippines and FamilyMart in other countries.

    In Indonesia and Malaysia, GrabMart partnered with traditional market operators, delivering fresh produce from several market stalls in a single order to customers’ doors.

    “In a post-Covid-19 normal, we anticipate demand for grocery-delivery services to remain elevated. We will continue to double down on expanding our GrabMart service to support consumers’ shopping needs,” she said.

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  • Korean food delivery app Yogiyo fined for market dominance

    Korean food delivery app Yogiyo fined for market dominance

    South Korea’s antitrust regulator has fined food-delivery app Yogiyo US$382,000 for exploiting its dominant position in the local market.

    The Fair Trade Commission (FTC) also ordered Yogiyo to take corrective measures, saying the company unilaterally introduced a scheme to prevent its contracted restaurants from selling their foods at lower prices through other apps between 2013 and 2016.

    During the three-year period, Yogiyo returned as much as $4 to customers if an order from its app was more expensive than that from other apps.

    Yogiyo terminated the contracts for 43 restaurants which refused to follow the scheme, the FTC said, ruling that Yogiyo undermined fair competition by banning restaurant owners from voluntarily setting prices.

    The food-delivery app Yogiyo, owned by Germany’s Delivery Hero, is South Korea’s second-largest.

    Delivery Hero’s Korean unit expressed regrets over the FTC’s ruling, saying that the commission scheme was abolished after the regulator began a probe into the company.

    Late last year, the German firm struck a deal to acquire an 87 percent stake in Woowa Brothers, which operates the nation’s largest food-delivery app Baedal Minjok, or Baemin, from existing investors, including Goldman Sachs and Singaporean fund GIC.

    In April, Baemin came under fire for changing its commission scheme, with critics saying it would place a heavier burden on restaurants hit hard by the coronavirus pandemic.

    At that time, Baemin began to charge restaurant owners and franchisees a 5.8 percent commission for every online order. Previously, the fixed monthly commission was $72.

    The change sparked a strong backlash from restaurant owners and franchisees, prompting Baemin to retract the new scheme.

    The combined users of Yogiyo and Baemin account for some 98 percent of all users of food delivery-related apps in South Korea, triggering concerns that the megadeal could hamper competition in the fast-growing market.

    South Korea’s food-delivery app market reached $8.2 billion in 2018.

  • Uber Launches Hourly Ride Booking Option In Some U.S. Cities

    Uber Launches Hourly Ride Booking Option In Some U.S. Cities

    Uber Technologies Inc on Friday said it would offer rides by the hour in some U.S. cities, a feature aimed at helping Americans with essential trips during the coronavirus pandemic.

    The option, which is already available in a handful of cities in Australia, Africa, Europe and the Middle East, will cost $50 per hour. Fares for regular Uber rides are generally based on the level of demand and the trip distance.

    Uber said it decided to expand the hourly feature to the U.S. after riders requested an option for extended trips during the pandemic to avoid exposure to different drivers and vehicles when taking multiple trips in a confined time period.

    The company said it expected the option to be used for trips to grocery stores, pharmacies and doctors’ appointments, but would monitor use going forward.

    A couple of globetrotters are stopped in their tracks by coronavirus after seeing 50 countries on five continents. The two have been stuck in their car on a Florida shopping center parking lot for two weeks.

    Hourly bookings will be available in Atlanta, Chicago, Washington, Dallas, Houston, Miami, Orlando, Tampa Bay, Philadelphia, Phoenix, Tacoma and Seattle beginning June 2, with expansions planned in the following weeks.

    Since May 18, Uber requires riders and drivers around the world to wear face coverings or masks and allows both parties to cancel trips and report users who do not comply with the measure. Repeated failure to comply can lead to account deactivation for both riders and drivers.

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  • Foodpanda in the Philippines expands into groceries delivery

    Foodpanda in the Philippines expands into groceries delivery

    Food-delivery service Foodpanda in the Philippines has expanded into grocery deliveries. Partnering with major retailers such as 7-Eleven, the company said it has introduced a “Shops” function on the Foodpanda app.

    “Shops provide Foodpanda users more options and upgrades so they will never have to run out of everyday essentials,” said Paolo Biondi Te, head of the grocery at Foodpanda in the Philippines.

    “With this newly added service, we are confident that this will bring delight and satisfaction to our customers who need easy access to their daily essentials while providing elevated experiences to Filipinos’ everyday lives,” he added.

    The “Shops” function works similarly to other grocery-delivery services which allow customers to place orders from a shop and track it through the Foodpanda app.

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  • GoJek and Deliveroo join forces in Singapore

    GoJek and Deliveroo join forces in Singapore

    Indonesian ride-hailing operator Gojek and Deliveroo, the food-delivery service, have joined forces in Singapore.

    Following a change in law allowing taxis to provide food and grocery deliveries – in response to increased demand during the Covid-19 lockdown – drivers will now have the option of making food deliveries around central Singaporean locations as a way to supplement their income, reports Channel News Asia.

    Many drivers on the platform have reported an income drop of up to 70 percent during the lockdown period, with some subsisting on grocery vouchers provided by a support fund established by the firm. Now they will be able to help ends meet by serving both GoJek and Deliveroo.

    “By strengthening Deliveroo’s supply of delivery riders, the company can better cater to the increased demand for food delivery during the current ‘circuit breaker’ period, when more people are eating at home,” said Gojek.

    The firm is also participating in a charitable effort to provide meals to vulnerable single-parent homes in the territory.

    Several competing ride hailers and taxi services are already providing food delivery solutions, with arch-rival Grab offering its own food platform. Gojek has its own food delivery platform in Indonesia.

    Gojek will “continue to find ways to look after our driver-partners and support the wider Singapore community,” said Singapore GM Lien Choong Luen.