Last Updated:
Before Diwali, Magicpin was levying a platform fee of Rs 7, which it has slashed by about 29 per cent.
Zomato has increased the platform fee from Rs 7 to Rs 10.
E-commerce app Magicpin has reduced its platform charge to Rs 5 per delivery to mark healthy competition with its fellow competitors in the market. A top company official said on Sunday that this amount is half of the charges of its competitors. Zomato and Swiggy had increased the platform fee per supply by about 42-67 per cent about two weeks ago. Magicpin founder and chief executive officer (CEO) Anshu Sharma announced the reduction in platform fees for the current calendar year on the social media platform X (formerly called Twitter).
“We can strike a balance between the well-being of our supply ‘heroes’ and our customers during the festive season. Hence, Magicpin promises to help as many people as possible enjoy the festive season. Magicpin’s platform fee has been reduced by 50 per cent. It is only Rs 5 for the rest of the year.” said Anshu Sharma.
He further said that there will be no fee increase on food delivery for the rest of the year 2024. Zomato has increased the platform fee from Rs 7 to Rs 10. This amount will be charged to the customers in addition to the supply fee per order. Swiggy has also increased the platform fee from Rs 6 to Rs 10.
Before Diwali, Magicpin was levying a platform fee of Rs 7, which it has slashed by about 29 per cent. It has recorded a two-fold jump in order on a year-over-year basis.
“This Diwali, we went against the current trend and took some hard platform pricing decisions. Result: More than Half a Million orders, Love and Support received during the long festive weekend! This is 2X of what we did last year,” Sharma said in a post on X.
Earlier this year, Magicpin announced its plan to invest Rs 100 crore over the next three months to onboard over 1 lakh new restaurants and cloud kitchens on the government-backed e-commerce platform ONDC. As per media reports, this E-commerce company is set to invest funds towards offering onboarding incentives like zero commission, zero onboarding fees, and free home delivery, among others, for customers by newly partnered restaurants.
