Offer Fulfilled! Eazydiner insider info

[drsel]

I got inside information about how the discount structure works from a restaurant owner who has tied up with Eazydiner.

a. The first discount is given fully by the restaurant
b. The second discount is provided by the bank credit card.
c. Eazydiner deducts 10% of the money payable to the restaurant as it's commission.

For example if the discount shown on Eazydiner app is 30% + 25%, then
You will get 1st discount of 30% from the restaurant and 2nd discount of 25% or 30% from the credit card used (40% discount is gone forever).

Example --
4000 bill + 10% service tax + 5% GST equals 4600
1st discount (30% restaurant discount with no upper cap) makes it 3220.
2nd discount (30% credit card discount with max 1000 cap) on Magnus, Reserve, Private, Vistara infinite, M&M Select makes it 2254. (+ 45 Eazydiner convenience fee)

So you have to pay 2299 on Eazydiner app.
So your total benefit is 4600 - 2299 = 2301 (approx 50% at best, not 30 + 30 = 60%)

Eazydiner will deduct 322 (10% of 3220) as its commission & pay the restaurant 2898.
Remaining payable amount will be credited by Eazydiner only once in week/ once in 2 weeks, depending on the agreement.
Additionally Eazydiner is charging 25 Rs per person from restaurant. It will be 50 Rs if person takes liquor.

1. Restaurant will earn 3220 - 322 = 2898 (on it's original bill of 4600) a 37% reduction
2. Eazydiner will earn 322 + 45 = 367, but pay MDR on 2299
3. Credit card bank will lose 966, but earn MDR on 2299
4. Customer/ Eazydiner member holding Axis super premium card will spend 2299, approx 50% less at best

Eazydiner convenience fee is gradually increasing, only 5 rupees at a time so that nobody notices or bothers

 

[Predator]

Interesting.
10% is decent,
Banks are really loosing money here.

 

[Deleted member 11974]

Who told you 30% + 30% is equal to 60% ?

 

[card-shard]

I got inside information about how the discount structure works from a restaurant owner who has tied up with Eazydiner.

a. The first discount is given fully by the restaurant
b. The second discount is provided by the bank credit card.
c. Eazydiner deducts 10% of the money payable to the restaurant as it's commission.

For example if the discount shown on Eazydiner app is 30% + 25%, then
You will get 1st discount of 30% from the restaurant and 2nd discount of 25% or 30% from the credit card used (40% discount is gone forever).

Example --
4000 bill + 10% service tax + 5% GST equals 4600
1st discount (30% restaurant discount with no upper cap) makes it 3220.
2nd discount (30% credit card discount with max 1000 cap) on Magnus, Reserve, Private, Vistara infinite, M&M Select makes it 2254. (+ 40 eazydiner service charge)

So you have to pay 2294 on Eazydiner app.
So your total benefit is 4600 - 2294 = 2306 (approx 50% at best, not 30 + 30 = 60%)

Eazydiner will deduct 322 (10% of 3220) from the amount payable to the restaurant as its commission.

1. Restaurant will earn 3220 - 322 = 2898 (on it's original bill of 4600)
2. Eazydiner will earn 322 + 40 = 362
3. Credit card bank will lose 966
4. Customer/ Eazydiner member holding Axis super premium card will spend/lose 2294

You haven't considered MDR charges, which banks collect everytime you use card online/machine.

 

[card-shard]

Interesting.
10% is decent,
Banks are really loosing money here.

Credit cards business is mostly profitable. Offers like these are like candies to lure adult ppl into getting cards (sometimes paid), and some ppl default/delay on card bill payment. All money given in discounts by bank is reocvered several times higher.

Discount given to dinners is funded by people who pay interest @ 40-50% rate & MDR charges on all transactions we do.

 

[_ayush]

Not to forget the interest banks earn due to no cost EMI offers from merchant.

 

[BVCBVC is verified member.]

Credit cards business is mostly profitable. Offers like these are like candies to lure adult ppl into getting cards (sometimes paid), and some ppl default/delay on card bill payment. All money given in discounts by bank is reocvered several times higher.

Discount given to dinners is funded by people who pay interest @ 40-50% rate & MDR charges on all transactions we do.

Yes, that's the business model of Credit cards.

 

[elite34700]

Credit cards business is mostly profitable. Offers like these are like candies to lure adult ppl into getting cards (sometimes paid), and some ppl default/delay on card bill payment. All money given in discounts by bank is reocvered several times higher.

Discount given to dinners is funded by people who pay interest @ 40-50% rate & MDR charges on all transactions we do.

MDR, interchange and switching fee is paid by merchant or settlement banks not by customers.

 

[drsel]

My friend, the owner of the restaurant told me all this in confidence.
Guys this information is confidential, so please do not share it with anyone or on social media or on any group.
it is only for the secret group

 

[drsel]

You haven't considered MDR charges, which banks collect everytime you use card online/machine.

Thanks I added this but the MDR could be 1.77% or 2.36% so I did not specify how much

 

[elite34700]

My friend, the owner of the restaurant told me all this in confidence.
Guys this information is confidential, so please do not share it with anyone or on social media or on any group.
it is only for the secret group

What’s so confidential about that ? This is how the pay for dining through apps work. It’s not a secret but a business practice.

 

[drsel]

What’s so confidential about that ? This is how the pay for dining through apps work. It’s not a secret but a business practice.

Eazydiner 10% commission is undisclosed, unknown and confidential.

They are trying to be like Uber/Zomato/Swiggy.
They don't have any restaurants, cooks, waiters or managers
They don't prepare or serve food, yet they earn a lot from the restaurants by providing them huge volume of business.

The restaurant owner will not be able to offer the same 50% discount to any customer, even to his friends. Why?
Why do diners like us need to go through apps?
Why can't we directly get 50% discount from a restaurant?
Ans. It's because the bank credit cards are subsidizing our dinners at fancy restaurants

 

[drsel]

Is there any such app which provides discounts on doctors & dentists?

 

[Tejo]

Is there any such app which provides discounts on doctors & dentists?

Nope

Avaliable only on medicines that too which are being sold at 75% margin, literally robbing the people.

I request @drsel The doctore to make an app which connects with doctors across India to book appointment.

There by you can provide discounts with bank help and by charging subscription.

I will be thankful to you, if you do so.

 

[drsel]

Nope

Avaliable only on medicines that too which are being sold at 75% margin, literally robbing the people.

I request @drsel The doctore to make an app which connects with doctors across India to book appointment.

There by you can provide discounts with bank help and by charging subscription.

I will be thankful to you, if you do so.

I don't know how to get the banks to offer and fund discounts like Eazydiner

 

[Tejo]

I don't know how to get the banks to offer and fund discounts like Eazydiner

Then create a partnership venture with @SSV @Abhishek012 they will help you asap.

 

[Wealth is my birth right!]

Is there any such app which provides discounts on doctors & dentists?

DRs are much professional
So far they never gave any considerations at least in India

 

[Tejo]

DRs are much professional
So far they never gave any considerations at least in India

The doctors in india are not professional at all atleast 90% of the them.

 

[Wealth is my birth right!]

The doctors in india are not professional at all atleast 90% of the them.

Yes bro i too said sarcastically

 

[imdjay]

Nope

Avaliable only on medicines that too which are being sold at 75% margin, literally robbing the people.

I request @drsel The doctore to make an app which connects with doctors across India to book appointment.

There by you can provide discounts with bank help and by charging subscription.

I will be thankful to you, if you do so.

DRs will never agree on this. The popular ones get 100% undisclosed undeclared cash income.
Why will they disclose and pay hefty taxes.