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Zomato gets RBI approval to operate as online payment aggregator

With the RBI approval, Zomato can now offer a seamless and secure payment experience to its users. The approval from RBI allows Zomato to act as an intermediary between customers and restaurants.

Edited By: Shweta Ganjoo

Published: Jan 25, 2024, 08:55 PM IST

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Story Highlights

  • Zomato has received RBI's approval.
  • Zomato can act as online payment aggregator.
  • Users will no longer need third party apps for making payments.

With the ever-increasing popularity of online food delivery platforms, Zomato has taken a major step forward by obtaining approval from the Reserve Bank of India (RBI) to operate as an online payment aggregator. This move is expected to further enhance the convenience and user experience for customers using the Zomato platform.

Zomato, one of India’s leading food delivery platforms, has been growing rapidly over the past few years. The company has consistently focused on improving its services and expanding its reach to cater to a larger customer base. With the RBI approval, Zomato can now offer a seamless and secure payment experience to its users. The approval from RBI allows Zomato to act as an intermediary between customers and restaurants, facilitating the payment process. This means that customers can now make payments directly through the Zomato platform, eliminating the need to use multiple payment apps or cash on delivery.

This move is a significant development for Zomato as it aims to become a one-stop solution for all food-related needs. By offering an integrated payment system, Zomato is streamlining the entire food delivery process, making it more convenient and efficient for both customers and restaurants.

The integration of a payment system within the Zomato platform simplifies the overall ordering process. Customers no longer need to switch between different apps or worry about carrying cash for their food deliveries. They can now complete the entire transaction within the Zomato app, making it a hassle-free experience. For restaurants, the RBI approval means increased efficiency and reduced operational costs. With the payment process integrated into the Zomato platform, restaurants can focus on preparing and delivering orders without the need for additional resources to handle cash or manage multiple payment apps.

Zomato’s RBI approval also highlights the growing trend of online payment aggregators in India. As more customers embrace online food delivery platforms, the need for seamless and secure payment options becomes crucial. By obtaining RBI approval, Zomato has positioned itself as a trusted and reliable platform that prioritizes customer satisfaction and convenience.

In conclusion, Zomato’s RBI approval to operate as an online payment aggregator is a significant milestone for the company. This move not only enhances the overall user experience but also reinforces Zomato’s commitment to providing a seamless and secure platform for online food delivery. With this approval, Zomato is well-positioned to further expand its customer base and solidify its position as a leading player in the online food delivery industry.

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Author Name | Shweta Ganjoo

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