Following this partnership, the UK on-demand grocery delivery company implemented UNIPaaS’ platform to help solve legacy issues with traditional payment providers, improve customer experience and operational efficiency, and help scalability without having to increase headcount.
Through means of embedded end-to-end compliant payment platforms, delivery platforms can become more efficient, save costs, and improve drivers’ payment terms. During the pandemic, the growth of delivery platforms was followed by investments that reached USD 18.5 billion in 2021, but with the delivery market trend changing in 2022, most platforms were faced with a need to improve operational efficiency and reach positive unit economics.
The partnership with UNIPaaS is directed at improving Beelivery’s manual interventions and reducing the use of multiple payment systems, with the following results having already been achieved:
Three payment platforms were merged to create one complete end-to end flow
Onboarding process done within 30 days for a multitude of suppliers through means of automated KYC (Know Your Customer) and KYB (Know Your Business) checks
Increased compliance through KYC and KYB checks.
Driver pay-out time reduced to 10 minutes
Increased visibility of outbound payments to customer service through the UNIPaaS portal.
Instant refund solution.
UNIPaaS’ mission and previous developments
The UNIPaaS embedded solution enables digital platforms to resort to services that help increase revenue, improve customers’ lifetime value, and deliver a more streamlined experience. Some of the solutions included are automatization and digitisation of manual processes, reduced administrative errors, and improved cashflow. By having embedded finance solutions implemented into digital platforms, financial services can be added into their core software products, thus increasing the revenue per customer by 2-5x.
Earlier in September 2022, UNIPaaS announced their partnership with Purl Partners as an engaged shareholder to help expand embedded finance to digital platforms. A collective of leaders from the business, government, and communications sectors, Purl Partners aims to support growing businesses by providing expertise, resources, energy, and networks.
In March 2022, UNIPaaS’ embedded finance solution was also adopted by IRIS Software Group, the platform being directed at SMEs cashflow, at a time when The National Federation of Self Employed & Small Businesses reported that a third of UK-based SMEs face cashflow challenges.
In February 2021, UNIPaaS announced the finalisation of an external funding round, aimed at building out its solution for multi-vendor businesses. The funding round was led by TPY Capital with participation of global fintech leaders and other investors.