Zomato said its subsidiary Zomato Payments Private Limited has received the certificate of authorisation from the RBI to operate as an online payment aggregator
Zomato Payments was incorporated to carry out the business as payment aggregator and issuer of pre-paid payment instruments
Early last year, Zomato also rolled out an in-house Unified Payments Interface (UPI) service for peer-to-peer (P2P) and merchant transactions
Foodtech major Zomato has received the licence from the Reserve Bank of India (RBI) to operate as an online payment aggregator with effect from January 24, 2024.
In an exchange filing on Thursday (January 25), Zomato said, “…we wish to inform that ZPPL (Zomato Payments Private Limited) has been granted certificate of authorisation dated January 24, 2024, from the Reserve Bank of India (“RBI”) to operate as an ‘Online Payment Aggregator’ in India.”