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Online food delivery platform Zomato has announced that the Reserve Bank of India (RBI) has granted a certificate of authorisation to its subsidiary Zomato Payments Private Limited (ZPPL) to operate as an ‘Online Payment Aggregator’. This means that the users will be able to make payments digitally from the app.
The authorisation, which came into effect from January 24, will mean that Zomato will expand its role beyond food delivery and restaurant discovery into the realm of digital payments.The Deepinder Goyal-led platform now joins other players such as Tata Pay, Razorpay and Cashfree that also got the approval from India’s central bank.
What the company said in an exchange filing
The company announced the development in an exchange filing.
“Pursuant to our earlier disclosure dated August 4, 2021, regarding the incorporation of Zomato Payments Private Limited (ZPPL), a wholly-owned subsidiary of Zomato Limited (the Company) to carry out the business, inter alia, as a payment aggregator and issuer of pre-paid payment instruments, we wish to inform that ZPPL has been granted a certificate of authorization dated January 24, 2024, from the Reserve Bank of India (RBI) to operate as an ‘Online Payment Aggregator’ in India with effect from January 24, 2024, as per the guidelines issued by the RBI,” the company said.
Last year, Zomato partnered with ICICI Bank to introduce its own unified payments interface (UPI), Zomato UPI.
The company had also partnered with RBL Bank to provide credit cards to users, however, this move was rolled back after some time.
Zomato has also announced that it will distribute Bluetooth-enabled helmets to its delivery partners in India. Currently, the platform has over 300,000 delivery partners across India and the move is aimed to improve the safety of its delivery partners.
The authorisation, which came into effect from January 24, will mean that Zomato will expand its role beyond food delivery and restaurant discovery into the realm of digital payments.The Deepinder Goyal-led platform now joins other players such as Tata Pay, Razorpay and Cashfree that also got the approval from India’s central bank.
What the company said in an exchange filing
The company announced the development in an exchange filing.
“Pursuant to our earlier disclosure dated August 4, 2021, regarding the incorporation of Zomato Payments Private Limited (ZPPL), a wholly-owned subsidiary of Zomato Limited (the Company) to carry out the business, inter alia, as a payment aggregator and issuer of pre-paid payment instruments, we wish to inform that ZPPL has been granted a certificate of authorization dated January 24, 2024, from the Reserve Bank of India (RBI) to operate as an ‘Online Payment Aggregator’ in India with effect from January 24, 2024, as per the guidelines issued by the RBI,” the company said.
Last year, Zomato partnered with ICICI Bank to introduce its own unified payments interface (UPI), Zomato UPI.
The company had also partnered with RBL Bank to provide credit cards to users, however, this move was rolled back after some time.
Zomato has also announced that it will distribute Bluetooth-enabled helmets to its delivery partners in India. Currently, the platform has over 300,000 delivery partners across India and the move is aimed to improve the safety of its delivery partners.
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