Swiggy unveils digital wallet ‘Swiggy Money’ in collaboration with ICICI Bank

Bengaluru-based food delivery platform Swiggy on Tuesday announced the launch of its own digital wallet ‘Swiggy Money’ in partnership with ICICI Bank to enable a ‘single-click checkout experience’ on its platform.

Swiggy Money allows customers to pay for their food orders easily without authenticating the payment via third parties. The digital wallet also claims to provide instant refunds. It had a “split-pay” option to make payment through a combination of Swiggy Money wallet balance and any other payment source or instrument. 

Along with a host of existing payment options offered to consumers, Swiggy Money will ensure seamless and swift transactions on food orders by minimising hassles such as lengthy payment procedures or payment failures resulting in improved customer experience,” said Anand Agrawal, VP Products, Swiggy, in a statement.

ICICI Bank customers can start using Swiggy Money instantly while non-ICICI Bank users provide details of a government ID to use this wallet. Swiggy Money wallet service is currently available only for restaurant orders, but it will soon be available for orders made through Grocery, Genie, and POP offerings too. 

This is our third offering, jointly with Swiggy. A year ago, we had customised an industry-first UPI led payment solution for Swiggy’s delivery partners to transfer funds. We had also introduced UPI-led instant one-click payment for millions of Swiggy’s customers,” informed Bijith Bhaskar, Head- Digital Channels & Partnership, ICICI Bank.

To enable Swiggy Money wallet, open the Swiggy Money option and tap on ‘Activate Swiggy Money’ button and agree to the Terms and Conditions of Service. After that, you need to fill a form asking for your personal details like name, date of birth and an official ID. Once it’s filled, you can enable the wallet.

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