Zomato has obtained a licence from the Reserve Bank of India (RBI) for its subsidiary, Zomato Payments, allowing the company to function as an online payment aggregator.
This milestone positions Zomato alongside industry leaders like Tata Pay and Razorpay, expanding its role in the burgeoning digital payment landscape.
Zomato Payments was established to conduct business as a payment aggregator and issuer of prepaid payment instruments.
The approval from RBI now enables Zomato to facilitate ecommerce transactions seamlessly on its platform.
The regulatory mandate necessitates payment gateways to acquire an aggregator licence to provide digital payment acceptance solutions.
This development follows Zomato’s initiative last year, introducing its in-house Unified Payments Interface (UPI) service, Zomato Pay, for both peer-to-peer and merchant transactions.
