Zomato Payments Pvt Ltd (ZPPL) has received the Reserve Bank of India’s authorisation to function as an online payment aggregator.
ZPPL was incorporated with a modest paid-up capital of Rs 1 lakh and was set up with the specific goal of pursuing the aggregator licence. With the RBI’s clearance, the company will be able to provide payment infrastructure to merchants, enabling them to accept multiple forms of digital payments including UPI, credit cards, and digital wallets.
The development builds on Zomato’s earlier launch of its in-app UPI payment service in partnership with ICICI Bank, which gave users the option to complete transactions directly within the Zomato platform. The aggregator licence will further strengthen this capability, allowing the company to streamline payments across its food delivery, Blinkit, and Hyperpure businesses.
Industry observers see this as a strategic move to deepen Zomato’s ecosystem, rather than a push into full-fledged FinTech operations. By managing its own payments flow, Zomato aims to improve user convenience, reduce reliance on third-party gateways, and potentially lower transaction costs.
With this nod, Zomato joins a select group of companies that have secured final authorisation from the RBI to operate as payment aggregators, alongside players such as Razorpay, Cashfree, and Stripe.
At the time of the announcement, Zomato’s stock was trading at around Rs 136, giving the company a market capitalisation of Rs 1.18 lakh crore. While the share price showed pressure during the day, analysts suggest that the RBI approval could bolster Zomato’s long-term growth prospects as it diversifies beyond food delivery.
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