Fintech firm Infibeam Avenues secures RBI's offline payment aggregator license

AI-driven fintech company Infibeam Avenues has received authorisation from the Reserve Bank of India (RBI) to operate as an offline payment aggregator under the Payment and Settlement Systems Act, 2007. 

The approval allows Infibeam Avenues to offer offline payment aggregation services, primarily through Point of Sale (POS) devices, alongside its existing online payment aggregator licence.

With this development, Infibeam Avenues has now secured its fourth RBI licence for its payments business under the CCAvenue brand.

The company has been expanding its offline presence since the launch of its CCAvenue SoundBox Max last year. The device accepts UPI, card and QR payments and is part of Infibeam’s push to build a broader omnichannel payments network.

Infibeam already holds licences for online payment aggregation and Bharat Bill Pay, and recently received an in-principle authorisation from the RBI to issue prepaid payment instruments (PPIs).

“Our strongest strength lies in our compliance-driven approach across all payment services. This licence advances our ability to deploy POS devices in a more structured manner for merchants nationwide, especially as POS adoption continues to rise alongside India’s growing economy,” said Vishwas Patel, Joint Managing Director of Infibeam Avenues Ltd.

For FY25, Infibeam claimed to have processed Rs 8.67 lakh crore in transactions across its payments and platform businesses. It serves more than 10 million merchants across India and international markets.

The approval adds to a series of regulatory gains for the company this year. In October, its subsidiary IA Fintech secured an in-principle payment service provider licence from the International Financial Services Centres Authority at GIFT City. The PSP licence will allow it to offer escrow services, cross-border money transfers and merchant acquisition for global clients.