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Zomato's Payment Arm Surrenders RBI Licence Citing Lack Of Competitive Edge

Zomato Payment will surrender the certificate of authorisation and withdraw the application to operate as the issuer of prepaid payment instruments.

NDTV Profit Desk

A Zomato delivery partner. (Source: Vijay Sartape/NDTV Profit)

The payments unit of foodtech major Zomato Ltd. will voluntarily surrender the licence it obtained from the Reserve Bank of India to operate as an online payment aggregator, citing lack of competitive advantage.

Also Read: Zomato Sees Fourfold Rise In Gross Order Value Through Store Expansion Plans

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