Zomato Payments Private Limited: The Reserve Bank of India (RBI) has approved Zomato’s Zomato Payments Private Limited (ZPPL) as an ‘Online Payment Aggregator’.
Zomato Payments Private Limited: Online food delivery platform Zomato on Thursday announced that its wholly owned unit Zomato Payments Private Limited (ZPPL) has received a certificate of authorization from the Reserve Bank of India (RBI) to operate as an ‘Online Payment Aggregator’. have got it. The authorization became effective from January 24.
Zomato said in an exchange filing, “We wish to inform that as per the guidelines issued by RBI, ZPPL has been granted a Certificate of Authorization from RBI to operate as an ‘Online Payment Aggregator’ in the country with effect from January 24, 2024 .”
Zomato brings Zomato UPI
Zomato Payments has expanded its role beyond food delivery and restaurant search to digital payments.
Apart from this recent development, Zomato partnered with ICICI Bank last year to introduce its own Unified Payments Interface (UPI) named Zomato UPI.
What is Zomato Daily Payouts
Earlier this month, Zomato introduced a new feature called “Daily Payouts” to support emerging restaurant partners. According to the company, currently this facility will be available for those restaurant partners who get 100 or less orders in a month.
“Our discussions with various restaurant partners highlighted the financial challenges faced by small eateries using the traditional weekly payment system. This feature aims to address this critical need for more frequent access to earnings,” Zomato said in a blogpost. “is designed for.”
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