Now you can not only order food from Zomato but also pay online.
The Reserve Bank of India approved Zomato Payments, a part of the Zomato food delivery company, to be an online payment service.
This approval is effective from January 24, 2024. Due to this news, the company’s stock may go up on Monday.
Keep in mind that the stock market will be closed on Republic Day, and there will be a general holiday on Saturday and Sunday.
Zomato shared their thoughts on this approval, saying, “Many of our customers use UPI payments for their food orders.
We want to make it easy for them by allowing Zomato customers to create a UPI ID for payments without switching apps. To make this process smooth, we have partnered with ICICI bank.”
Zomato now has a payment license, joining others like Tata Pay, Rogerpay, and Cashfree. This approval could positively impact Zomato’s shares.
Today, Zomato shares closed with a slight decrease at Rs 135.40 per share, down by 0.59 percent.
However, the impact of the RBI approval may show in the shares on Monday, potentially leading to an increase.
Investors are waiting to see how Zomato’s stock performs.
As of today, Zomato shares opened at Rs 131.75 per share, with a 52-week high at Rs 141.55. The company’s market cap is Rs 1,17,815.13 crore, which is a total of Rs 1.17 lakh crore.
