UOB and Getz Partner to Lower Costs and Increase Online Presence for F&B

August 2020

United Overseas Bank (UOB) and Getz, an end-to-end food and beverage (F&B) digital solution provider, announced a collaboration in order to help F&B businesses set up their online storefronts quickly while, at the same time, lowering the cost of delivering food to consumers. The collaboration comes at a time when almost 7 in 10 consumers say that they will continue to order food online even as COVID-19 restrictions are eased.

The tie up will allow F&B merchants without an online presence to set up their online store, complete with digital payment capabilities, in less than a week. For payments, F&B merchants using Getz will only need to pay transaction fees capped at a maximum of 4% of their online sales, representing a discount of up to 50 % from Getz’s usual rates.

Moreover, UOB will also support F&B merchants’ marketing efforts by featuring them on UOB’s The Dining Advisor online marketplace, which attracts more than 43,000 diners monthly. It will also offer UOB cardmembers promotional codes to order from these merchants, helping them attract new customers and build customer loyalty.

(Sources: UOB Group; Finextra; Yahoo Finance)

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