Zomato Payments Gets Go-Ahead from RBI, Enters Online Aggregator Space

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Pune, 25th January 2024: Zomato achieved a significant milestone as it secured approval from the Reserve Bank of India to operate as an ‘Online Payment Aggregator.’ The announcement, made on Thursday, revealed that Zomato Payments Private Limited (ZPPL), a wholly owned subsidiary, received a certificate of authorization from the RBI on January 24, 2024. This allows ZPPL to function as an online payment aggregator in India, aligning with RBI guidelines. Zomato’s shares, closing at ₹136.00, showed a dip, with the company’s market cap presently standing at ₹1,18,468 crore according to BSE. Notably, Zomato’s CEO, Deepinder Goyal, shared a remarkable achievement, stating that the platform delivered nearly as many orders on New Year’s Eve 2023 as it did from 2015 to 2020 combined.