Zomato incorporates a subsidiary Zomato Payments with an authorized capital of Rs20cr

The Zomato Payments come with an authorized share capital of Rs20cr.

Aug 05, 2021 01:08 IST India Infoline News Service

The online food service provider, Zomato, has incorporated a wholly-owned subsidiary in the name of Zomato Payments Private Limited.

The Zomato Payments come with an authorized share capital of Rs20cr.

Zomato Payments will carry on the business of providing payment aggregator services and payment gateway services following the Reserve Bank of India (RBI) rules and regulations, amendments therein or any new rules/ acts/ regulations prescribed by the RBI.

Further, Zomator Payments will issue, implement, undertake, assist offer, distribute, or otherwise promote such services, schemes and projects including but not limited to issue of all types of electronic and virtual payment systems services, e-wallets, mobile wallets, cash cards to consumers and setting up a payment and settlement system, payment gateway services, prepaid and post-paid payment instruments payment systems, including closed/ semi-closed systems payment instruments, direct debit facility on mobile phone, provide solutions for payment for all goods and services and utility bills through mobile phone, etc.

At around 1.28 pm, Zomator was trading at Rs135.35 per piece down by 2% on Sensex. 

Related Story

Open Free Demat Account (Rs699)