On-line meals supply platform Zomato has introduced that the Reserve Financial institution of India (RBI) has granted a certificates of authorisation to its subsidiary Zomato Funds Personal Restricted (ZPPL) to function as an ‘On-line Fee Aggregator’. Because of this the customers will be capable to make funds digitally from the app.
The authorisation, which got here into impact from January 24, will imply that Zomato will develop its function past meals supply and restaurant discovery into the realm of digital funds. The Deepinder Goyal-led platform now joins different gamers reminiscent of Tata Pay, Razorpay and Cashfree that additionally received the approval from India’s central financial institution.
What the corporate stated in an change submitting
The corporate introduced the event in an change submitting.
“Pursuant to our earlier disclosure dated August 4, 2021, relating to the incorporation of Zomato Funds Personal Restricted (ZPPL), a wholly-owned subsidiary of Zomato Restricted (the Firm) to hold out the enterprise, inter alia, as a cost aggregator and issuer of pre-paid cost devices, we want to inform that ZPPL has been granted a certificates of authorization dated January 24, 2024, from the Reserve Financial institution of India (RBI) to function as an ‘On-line Fee Aggregator’ in India with impact from January 24, 2024, as per the rules issued by the RBI,” the corporate stated.
Final 12 months, Zomato partnered with ICICI Financial institution to introduce its personal unified funds interface (UPI), Zomato UPI.
The corporate had additionally partnered with RBL Financial institution to offer bank cards to customers, nevertheless, this transfer was rolled again after a while.
Zomato has additionally introduced that it’s going to distribute Bluetooth-enabled helmets to its supply companions in India. At the moment, the platform has over 300,000 supply companions throughout India and the transfer is aimed to enhance the protection of its supply companions.
The authorisation, which got here into impact from January 24, will imply that Zomato will develop its function past meals supply and restaurant discovery into the realm of digital funds. The Deepinder Goyal-led platform now joins different gamers reminiscent of Tata Pay, Razorpay and Cashfree that additionally received the approval from India’s central financial institution.
What the corporate stated in an change submitting
The corporate introduced the event in an change submitting.
“Pursuant to our earlier disclosure dated August 4, 2021, relating to the incorporation of Zomato Funds Personal Restricted (ZPPL), a wholly-owned subsidiary of Zomato Restricted (the Firm) to hold out the enterprise, inter alia, as a cost aggregator and issuer of pre-paid cost devices, we want to inform that ZPPL has been granted a certificates of authorization dated January 24, 2024, from the Reserve Financial institution of India (RBI) to function as an ‘On-line Fee Aggregator’ in India with impact from January 24, 2024, as per the rules issued by the RBI,” the corporate stated.
Final 12 months, Zomato partnered with ICICI Financial institution to introduce its personal unified funds interface (UPI), Zomato UPI.
The corporate had additionally partnered with RBL Financial institution to offer bank cards to customers, nevertheless, this transfer was rolled again after a while.
Zomato has additionally introduced that it’s going to distribute Bluetooth-enabled helmets to its supply companions in India. At the moment, the platform has over 300,000 supply companions throughout India and the transfer is aimed to enhance the protection of its supply companions.
