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Zomato has announced that its wholly-owned subsidiary Zomato Payments has been granted a certificate of authorisation from the Reserve Bank of India (RBI) to operate as an online Payment Aggregator (PA).
The authorisation came into effect last week.
According to an exchange filing by Zomato, Zomato Payments has been granted a certificate of authorisation dated 24th January, 2024, from the RBI to operate as an online PA in India with effect from 24th January, 2024, as per the guidelines issued by the RBI.
Last year, Zomato had partnered with ICICI Bank to introduce its own Unified Payments Interface (UPI), Zomato UPI.
