Logistics platform BlackBuck’s subsidiary gets PPI license from RBI

TZF Logistics Solutions Pvt. Ltd., a wholly owned subsidiary of BlackBuck (Zinka Logistics Solutions Ltd), has received a Prepaid Payment Instrument (PPI) license from the Reserve Bank of India (RBI), in a move that marks the logistics-tech firm’s formal entry into digital payments.

The license, issued under the Payment and Settlement Systems Act, 2007, allows TZF Logistics to issue and operate digital wallets and prepaid cards, enabling cashless payments for a range of services including fuel, tolls, and other vehicle-related expenditures. The development is expected to significantly ease the transactional burden for India’s vast trucking community, many of whom continue to rely heavily on cash for daily operational expenses.

In its regulatory filing, BlackBuck said the license will allow TZF “to set up and operate a payment system for prepaid payment instruments.” The instruments, which store money digitally, can be used for purchases, bill payments, peer-to-peer transfers, and merchant services.

BlackBuck’s platform currently serves as a digital freight marketplace connecting shippers and truckers. With offerings ranging from freight discovery to telematics and vehicle financing, the addition of digital payments could create a vertically integrated ecosystem that addresses the entire lifecycle of a trucking transaction.

BlackBuck already operates a lending arm, BlackBuck Finserve, that facilitates loans for used commercial vehicles. The new PPI license is expected to complement these services, enabling seamless financial operations within a unified digital interface.

BlackBuck reported a consolidated net profit of Rs 280.17 crore in the quarter ended March 2025, a turnaround from a net loss of Rs 90.75 crore a year earlier. Revenue from operations surged 30.7% year-on-year to Rs 121.81 crore for the quarter.