Zaakpay Gets RBI Approval to Operate as Online Payment Aggregator

30 Apr 2025 , 10:45 PM

The Reserve Bank of India (RBI) has granted Zaak ePayment Services Private Limited (Zaakpay) a Certificate of Authorisation on a formal basis, as an online payment aggregator, which is a major subsidiary of One MobiKwik Systems.

This regulatory sanction is under the Payment and Settlement Systems Act, 2007, applicable to digital transaction platforms and payment service providers in India. The license will enable Zaakpay to legally enable merchant payments via its web platform, which will enable it to further establish itself in India’s fast-growing digital payment space.

Parent entity MobiKwik, in a regulatory filing filed with the stock exchanges on Wednesday, confirmed the development and said that this authorization will enable Zaakpay to integrate and expand its digital payments business.

With this accreditation, Zaakpay joins the ranks of RBI-approved fintech companies to gear up for sustainable growth in a regulated payment environment. MobiKwik further added that the RBI approval is a significant milestone that will support its subsidiary’s goal of strengthening merchant partnerships and drive innovation in online payment systems.

The approval reflects RBI’s ongoing push to formalize and regulate India’s fintech ecosystem, ensuring consumer protection and enhancing the credibility of digital financial services.