Online food delivery platform Zomato on Thursday announced that it has received authorisation by the Reserve Bank of India as an ‘Online Payment Aggregator’.
“Pursuant to our earlier disclosure dated August 4, 2021 regarding the incorporation of Zomato Payments Private Limited (“ZPPL”), a wholly owned subsidiary of Zomato Limited (“the Company”) to carry out the business, inter alia, as payment aggregator and issuer of pre-paid payment instruments, we wish to inform that ZPPL has been granted certificate of authorization dated January 24, 2024, from the Reserve Bank of India (“RBI”) to operate as an ‘Online Payment Aggregator’ in India with effect from January 24, 2024, as per the guidelines issued by the RBI,” Zomato said in an exchange filing.
The shares of Zomato were trading in red at ₹136.00 when markets closed. The market cap of the company currently stands at ₹1,18,468 crore as per the BSE website.
Recently, Zomato CEO Deepinder Goyal shared that the food delivery platform delivered almost as many orders on New Year’s Eve (NYE) 2023 as it did on NYE 15, 16, 17, 18, 19, and 20 combined.
“Fun fact: We’ve delivered almost as many orders on NYE 23 as we did on NYE 15, 16, 17, 18, 19, 20 combined. Excited about the future!” Goyal posted on social platform X.
Last December, Bloomberg had report that Zomato made an offer to acquire Indian e-commerce shipping startup Shiprocket.
The offer valued the platform at about $2 billion, said the people, who requested anonymity discussing confidential information. No final decision was made and Zomato could opt against proceeding with a deal for the company, the people said.