BusinessStrategy - Business Outrank

Zomato's Bold Move: Saying Goodbye to Payments, Welcoming Growth in Delivery and Beyond Zomato, a big company in food technology, has made a big change in how it does business. They decided that their part called zomato payment pvt ltd (ZPPL) will give up its permission to work as an online payment company. This shows that zomato is thinking about how it comes in the payments business. The company said that its part called Zomato Payments Private Limited (ZPPL) has chosen to give back the permission it got from RBI to work as an online payment company under a law called the payment and settlements systems act 2007. Before this, zomato made a company called ZPPL in August 2021 so they seem follow the rules set by RBI for payment companies and payment gateways. The company got the confirmation from RBI in January this year to start working as a payment company and to give out pre-paid payment things. They also said that its writing down its investment of Rs 39 crore in ZPPL, saying it’s a misfortune. Also, ZPPL has chosen to cancel its application with the RBI, which already gave it permission to operate as a supplier of prepaid payment instruments under certain laws. Be that as it may, ZPPL assured investors that its other exercises will proceed as usual. Last year, zomato started offering payments through UPI, which is a way to pay electronically. The company worked with ICICI Bank to offer payments for both business and people. This data is available on the National Payments corporation of india’s (NPCL) website. The cost for delivery and related charges made up 30.7% of the total investing, which rose by 4.7% to RS 1,118 crore in the fourth quarter of FY24. Zomato's overall spending increased to Rs 3,636 crore in Q4FY24 from Rs 3,382 crore in Q3FY24, driven by costs like acquirement, representative benefits, publicizing, and marketing. Thanks to better cost management and increased operations, Zomato saw its benefits rise by 26.8% to Rs 175 crore in Q4 FY24 from Rs 138 crore in Q3 FY24. On a unit level, the company spent Rs 1.02 to earn a rupee in Q4 FY24. While Zomato's advance continues, all eyes are presently on Blinkit, as its turnaround has surprised many. This move in center has put weight on Swiggy’s Instamart, which is presently seen as slacking behind. Their center delivery business still faces challenges, but its other services, especially Blinkit, are anticipated to eclipse it in the coming year. If this happens, it would be a surprising accomplishment, demonstrating Deepinder Goyal's vision right. In spite of skepticism around the Blinkit procurement, Goyal had predicted solid growth and benefit, which is presently getting to be a reality in less than 24 months.

What's Hot

Tuhin Kanta Pandey confident of meeting CPSE 4.9% fiscal deficit in FY25

India’s MSME Jobs Have Reached 23 Crore

Suditi Industries Expands Kidswear Business With Gini & Jony

The Connection Between Diet and Organic Skincare – Foods for Healthy Skin

The Rise of Organic Skincare – Embracing Nature’s Love for Your Skin!

Living with High-Functioning Anxiety – Myths and Realities

Hidden Phobias – Understanding and Coping with Subconscious Fears

According to Nareshi Meena, Amitabh Bachchan will pay for Nareshi’s treatment of a brain tumour

Prepare for the Epic Conclusion: Demon Slayer’s Infinity Castle Arc Comes to the Big Screen

Nusrat Fateh Ali Khan’s Lost Album ‘Chain of Light’ to Debut After 27 Years

Kartik Aaryan Shines in “Satyanaas” Song from Chandu Champion

Indian government approves Singapore Airlines bid to merge Vistara and Air India

Independence Day and Raksha Bandhan Fuel Airbnb Travel Rush

Indian government approves Singapore Airlines bid to merge Vistara and Air India

Independence Day and Raksha Bandhan Fuel Airbnb Travel Rush

Bangladesh’s Instability Threatens Reactive Dyes Industry for Next Year

Crafting Dream Spaces: Interior Designers Company in Bangalore

Browsing: BusinessStrategy

Zomato Surrenders RBI License, Shifts Strategy from Payment Aggregator

Tuhin Kanta Pandey confident of meeting CPSE 4.9% fiscal deficit in FY25

India’s MSME Jobs Have Reached 23 Crore

Suditi Industries Expands Kidswear Business With Gini & Jony

In Five Years, 81% Of Small Businesses Will Digitalize Their Tax Operations

Our Picks

Tuhin Kanta Pandey confident of meeting CPSE 4.9% fiscal deficit in FY25

India’s MSME Jobs Have Reached 23 Crore

Suditi Industries Expands Kidswear Business With Gini & Jony

Most Popular

Tuhin Kanta Pandey confident of meeting CPSE 4.9% fiscal deficit in FY25

Harvesting Hope: Rahul Gandhi’s Empathy in Action with Farmers before 2024 Elections

Is Modi Afraid? Congress Leader Accuses PM of Targeting Rahul Gandhi

Subscribe to Updates

What's Hot

Browsing: BusinessStrategy