iFood launches ‘bank for restaurants’

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After the launch of iFood Facilita, a prepaid card for restaurant owners under the Visa banner, iFood now announces the digital account for the more than 236 thousand establishments registered on its platform, with free access to the services offered.

Managed by fintech MovilePay, of the Movile group (iFood’s parent company, plus Playkids and Sympla), the “restaurant bank” has Zoop (also from the Movile group) as a partner, whose strength is digital financial solutions for niche retailers market; fintech also offered support for the iFood Facilita card.

The “iFood bank” was in beta since April, being used by a group of 1,000 restaurants spread across the country. Now, all owners of registered establishments will be able to carry out regular bank transactions (payments, receipts and transfers, including via PIX) and also anticipate receivables from iFood and use QR Code to receive payments.

According to the commercial director of iFood Ricardo Ubrig, “with Movile Pay, restaurants will be able to reduce bank costs and, soon, also enjoy other financial services that we will offer”.

Lower interest

More than 20 thousand establishments have already joined iFood’s digital account, in just the first two weeks of registration opening; the company expects that, by the end of this year, that number will rise to one hundred thousand active accounts – with data on the use of the banking service, MovilePay should launch other services, offering lines of credit with lower interest rates.

According to the president of MovilePay, Daniel Bergman, the pandemic accelerated plans to launch products for restaurants.

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“We anticipated receivables and gave unsecured credit, using future payments from iFood to reduce interest rates. We disburse tens of millions of reais in this modality. We want to be partners with these entrepreneurs and we hope that a good part of the restaurants will be in the digital account in the coming months ”.


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