Mobikwik's subsidiary Zaakpay gets RBI nod to operate as online payment aggregator

The Reserve Bank of India (RBI) has issued the Certificate of Authorisation to Zaak ePayment Services Private Limited (Zaakpay), a material subsidiary of One MobiKwik Systems, to function as an online payment aggregator

In a regulatory filing on Wednesday , One MobiKwik Systems said,  "In compliance with Regulation 30 and Regulation 51 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform the stock exchanges that the Reserve Bank of India has issued the Certificate of Authorisation to operate as an “Online Payment Aggregator” to Zaak ePayment Services Private Limited (Zaakpay), a Material Subsidiary of the Company."

"This will allow Zaakpay to pursue business expansion in the digital payments ecosystem," One MobiKwik Systems further said.

The company stated the development would help its subsidiary pursue business growth within the regulated framework for payment aggregators.