Business

Delivery platform iFood launches digital account for partner restaurants

The owner of iFood, Movile Group, has been testing the digital account since the beginning of the year

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  • Movile Group is launching a prepaid card with no monthly fee for withdrawals and purchases under the Visa banner;
  • The digital account infrastructure is handled by Zoop.

Movile group, the owner of the Brazilian foodtech iFood, expanded its operations in the financial sector by offering digital accounts to entrepreneurs who already use its platforms, including iFood itself, reported Valor Econômico.

With the digital account, the company is launching a prepaid card with no monthly fee for withdrawals and purchases under the Visa banner, which will be offered to owners of iFood’s partner restaurants.

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The group started testing it at the beginning of the year and currently has 5,000 customers under evaluation, including 1,000 restaurants. The expectation is to have more than 100,000 payment accounts by the end of the year, according to the media outlet.

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The digital account infrastructure is handled by Zoop, which also acts as a payment institution and sub-accreditor, and MovilePay, the group’s payment company.