Zaakpay Gets RBI Approval to Operate as Licensed Payment Aggregator

On April 30, 2025, Zaakpay, the business payments arm of MobiKwik, received final approval from the Reserve Bank of India (RBI) to operate as a licensed Online Payment Aggregator. This means Zaakpay can now officially handle digital payments for businesses under Indian law.

Why This Matters

This RBI license is a major win for Zaakpay and MobiKwik. It proves that the company follows strong compliance and security rules. With more companies going digital, this approval lets Zaakpay expand and partner with more merchants in a safe, legal way.

What Does Zaakpay Do?

Zaakpay helps businesses accept and send payments using over 100 payment methods, like UPI, credit/debit cards, net banking, wallets, and EMI options. It is used by many sectors, including e-commerce, healthcare, and transport. Zaakpay also offers services like quick payment checkout, QR code payments, and instant daily settlements.

In 2024, it teamed up with Meta to allow WhatsApp-based payments, especially for health and transport businesses. It also added credit/debit EMI options to make payments more flexible.

Why the RBI License Is Important

RBI has been strict with digital payment companies. Many without a license were banned from adding new clients. This license gives Zaakpay a green signal to grow and attract more merchants. It also boosts its trust and credibility in the market.

Stock Market Reaction

Even with the good news, MobiKwik’s share price was down 0.99% and was trading at ₹249.95 on May 2, 2025. On Wednesday, it had closed at ₹252.60. The fall wasn’t linked to the license—it followed broader market trends. Since listing at ₹440 in December 2024, the stock has dropped about 65%, mainly due to investor selling after the lock-in period ended.

What’s Next for Zaakpay?

Zaakpay will now aim to grow in SaaS, healthcare, logistics, and Tier-2/3 cities. The company plans to improve its tech with AI-based fraud checks, real-time settlements, and custom checkouts. With this, Zaakpay could become one of MobiKwik’s strongest business drivers in the future.

Conclusion

RBI’s approval is a key step for Zaakpay and shows it’s ready for bigger business. If MobiKwik keeps improving services and profits, investor trust may return.

Read more on: Brightcom Group Approves Capital Reorganisation and Appointments of CEO, CFO at EGM

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