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Zaakpay, a Subsidiary of MobiKwik, Receives RBI Approval to Operate as a Payment Aggregator (PA).

Banking & Finance | Dated: 07 May 2025

In May 2025, Gurugram (Haryana)-based Zaak ePayment Services Private Limited (Zaakpay), a wholly owned subsidiary of One Mobikwik Systems Limited (MobiKwik), received the final regulatory approval—Certificate of Authorisation (CoA)—from the Reserve Bank of India (RBI) to operate as an online Payment Aggregator (PA).

🎯 Key Highlights:

  • - This CoA was granted under the Payment and Settlement Systems Act, 2007, authorising Zaakpay to enable merchant payments through online platforms.

💡 Other Important Facts:

  • (i) With this approval, Zaakpay, a leading fintech player, can now offer end-to-end digital payment solutions across multiple modes including credit/debit cards, net banking, Unified Payments Interface (UPI), wallets, pay later services, and Equated Monthly Installments (EMIs).
  • (ii) Zaakpay currently serves enterprise clients in various sectors such as transit, e-commerce, digital lending, healthcare, and utility bill payments, providing tailored payment infrastructure.
  • (iii) Notably, Zaakpay had received in-principle approval from the RBI in 2023 and has now secured the final certification to function as a full-fledged Payment Aggregator.

📚 Test Your Knowledge:

Which company recently received the RBI's Certificate of Authorisation to operate as an online Payment Aggregator (PA)?

Correct Answer: Zaakpay

🚀 Quick Recap:

About RBI

  • Governor : Sanjay Malhotra
  • Headquarter : Mumbai