Zomato incorporates subsidiary Zomato Payments to offer payment gateway services

New Delhi: Food delivery platform Zomato on Wednesday (August 4) announced the incorporation of its wholly-owned subsidiary, Zomato Payments Pvt Ltd, that will the firm expand into the fintech business. The incorporation has been done to carry the business of providing payment aggregator services and payment gateway services under the Reserve Bank of India (RBI) rules and regulations, Zomato said in a regulatory filing.

"Zomato Payments Pvt Ltd (ZPPL) is incorporated with an initial subscription of 10,000 equity shares of Rs 10 each aggregating to Rs one lakh only," it added. Shares of Zomato Ltd closed at Rs 138.30 per scrip on BSE, down 0.79 per cent from its previous close. 

The incorporation of Zomato Payments has come at a time when the food delivery giant recently launched the Zomato Pro Plus membership for select users. Zomato has promised that it’ll send "Unlimited Free Deliveries" for its 1.8 million Pro members which basically means that these users will see a service that will waive of surge fee and distance fee for select users. Also Read: Windlas Biotech, Exxaro Tiles, Krsnaa Diagnostics, Devyani Int IPOs fully subscribed on Day-1

"One of the most requested features from our customers has been "Unlimited Free Deliveries." So, in a few hours, we are launching our Limited Edition *Pro Plus* membership for selected customers," Zomato’s CEO Deepinder Goyal had tweeted. Also Read: YouTube creators can earn up to Rs 7.4 lakhs per month by creating YT Shorts videos

- With inputs from PTI.