Zomato has received final approval from RBI to operate as online payment aggregator

Current Context: Zomato Payments Private Limited, a wholly-owned subsidiary of Zomato Limited, has indeed received approval from the Reserve Bank of India (RBI) to operate as an online payment aggregator.

• This authorization is effective from January 24, 2024.
• Zomato Payments was created to provide digital payment services, including wallets and payment gateway services.
• This development is expected to bolster Zomato’s financial services arm, enabling the platform to offer integrated payment solutions to its users.
• This aligns Zomato Payments with other notable entities like Tata Pay, Razorpay, and Cashfree, which have also acquired the coveted payments license from the RBI.

Question:

Q.1 What approval did Zomato Payments receive from the RBI?
a. Approval to operate as a bank
b. Approval to operate as an online payment aggregator
c. Approval to operate as a digital wallet service
d. Approval to operate as a payment gateway service