PayMe was chosen as a cost effective and efficient payment method for users, reinforced by the growing consumer preference for cashless transactions. It also enabled foodpanda to engage their target demographic audience in Hong Kong SAR without credit cards, making its services more inclusive.
HSBC was tasked not only with reducing costs but also with improving foodpanda’s user experience and engagement. To achieve this goal, in addition to practical implementation, HSBC took an advisory approach to the project, which included building an internal consensus through intensive coordination with Delivery Hero’s local, regional and global teams. HSBC also collaborated to create a marketing campaign to acquire new PayMe users on the foodpanda platforms and increase take-up among existing users.
After deployment, foodpanda’s customers had an additional, easier, more secure checkout option without the need to provide credit card information. This also had benefits for foodpanda, boosting its bottom line as PayMe transactions have a substantially lower merchant discount rate (MDR) compared to credit cards and are cheaper to process than cash payments.
As a leading delivery platform in Asia, the management team recognizes the importance of digital technology and customer experience. Not only did the cashless and contactless payment options help safeguard the spread of COVID-19 amongst customers and couriers, but the continued innovation also enhanced overall customer experience. Completion of this project showed HSBC’s ability to gain global buy-in for a distinctly local campaign.