VMPL
New Delhi [India], May 20: ZikZuk Technologies Private Limited today announced that it has received final authorisation from the Reserve Bank of India (RBI) to operate as a Prepaid Payment Instrument (PPI) Issuer under the Payment and Settlement Systems Act, 2007.
The PPI authorisation, one of the most rigorous regulatory approvals in India's payments ecosystem, positions ZikZuk to operate at the intersection of digital payments, UPI infrastructure, and cross-border financial services. A PPI is a payment instrument where money is loaded in advance and used for subsequent transactions, covering General Purpose PPIs (Full-KYC and Small PPIs), and Special Purpose PPIs including Gift PPIs, Transit PPIs for public transport such as metro, bus, rail, and toll payments, and PPIs for Foreign Nationals and NRIs visiting India, issued under the UPI One World framework. With this authorisation, ZikZuk is now positioned to build and scale a full suite of regulated payment products, from digital wallets and prepaid cards to stored-value solutions, all under the direct oversight of the RBI.
Quotes
"Receiving the RBI's authorisation is a defining moment for ZikZuk. It is a mandate of trust from India's central bank. We are grateful to our entire team, our advisors, and our compliance partners for their unwavering support through this journey."
-- Rahul Rasa, Co-Founder & Whole-Time Director, ZikZuk Technologies
"This authorisation validates years of disciplined execution and regulatory commitment. We have built ZikZuk on the principles of compliance-first and customer-first, and this recognition from the RBI is the strongest possible affirmation of that approach."
-- Naviin Goel, Director, ZikZuk Technologies
About ZikZuk Technologies Private Limited
ZikZuk Technologies is a Hyderabad-based fintech company authorised by the Reserve Bank of India as a Prepaid Payment Instrument Issuer. The company is focused on building regulated, secure, and scalable digital payment infrastructure for India's growing payments ecosystem, with offerings spanning wallets, prepaid cards, and stored-value payment solutions.
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