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Rephrase the title:Zomato gets RBI approval to operate as ‘online payment aggregator’

Posted on January 25, 2024 By Haley Bennett

Rephrase and rearrange the whole content into a news article. I want you to respond only in language English. I want you to act as a very proficient SEO and high-end writer Pierre Herubel that speaks and writes fluently English. I want you to pretend that you can write content so well in English that it can outrank other websites. Make sure there is zero plagiarism.:

Online food delivery platform Zomato on Thursday announced that its wholly-owned subsidiary Zomato Payments Private Limited (ZPPL) has been granted a certificate of authorisation from the Reserve Bank of India (RBI) to operate as an ‘Online Payment Aggregator‘.

The authorisation came into effect from January 24.

“We wish to inform that ZPPL has been granted a certificate of authorisation dated January 24, 2024, from the 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.

With this, Zomato Payments has expanded its role beyond food delivery and restaurant discovery into the realm of digital payments.

Apart from this recent development, Zomato had partnered with ICICI Bank last year to introduce its own unified payments interface (UPI), Zomato UPI.

Earlier this month, Zomato introduced a new feature called “daily payouts” to support emerging restaurant partners.

Currently, the feature will be available for restaurant partners who receive 100 or fewer orders a month, according to the company.

“Our discussions with various restaurant partners highlighted the financial challenges smaller eateries face, using the traditional weekly payout system. This feature is designed to address this critical need for more frequent access to earnings,” Zomato said in a blogpost.

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Haley Bennett

I have over 10 years of experience in the cryptocurrency industry and I have been on the list of the top authors on LinkedIn for the past 5 years. I have a wealth of knowledge to share with my readers, and my goal is to help them navigate the ever-changing world of cryptocurrencies.

Business Tags:online payment aggregator, rbi, reserve bank of india, upi, zomato, zomato payments private limited, zppl

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