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Fintech company Infibeam Avenues has secured final authorisation from the Reserve Bank of India (RBI) to operate as an offline payment aggregator, a move that will allow the company to handle in-store card and QR-based transactions through POS devices.
With this authorisation, the company can formally deploy and manage POS machines across merchant outlets under its CCAvenue brand. Infibeam has been increasing its offline footprint since the launch of its SoundBox Max device last year, which accepts payments via UPI, cards and QR codes.
The company already holds an online payment aggregator licence, along with prepaid payment instrument (PPI) and Bharat Bill Pay licences.
Infibeam said the licence will help it expand its merchant network as more businesses adopt POS systems. The company claimed to have processed INR 8.67 Lakh Cr in transactions across its payments and platform businesses in FY25. It serves over 10 Mn merchants across India and international markets.
The latest approval adds to a series of regulatory gains for the company this year. In October, its subsidiary IA Fintech received an in-principle payment service provider (PSP) licence from the International Financial Services Centres Authority (IFSCA) at GIFT City.
The PSP licence will allow Infibeam to offer escrow services, cross-border money transfers and merchant acquisition for international clients out of GIFT City.
Infibeam has also been reshaping its business to focus more on payments and AI. Earlier this year, it transferred its ecommerce platform to its subsidiary Rediff.com for INR 800 Cr and raised INR 350 Cr through a rights issue in Q2 FY26 to strengthen its AI capabilities.
It also secured a third-party application provider (TPAP) licence from the National Payments Corporation of India (NPCI) for RediffPay.
On the financial front, its consolidated profit after tax stood at INR 67.7 Cr in Q2 FY26, up 43% year on year, while operating revenue rose 93% to INR 1,964.9 Cr.
Shares of Infibeam were trading 2.8% higher at INR 19.60 on the BSE at 14:50 IST.
The post Infibeam Gets RBI’s Nod To Operate As Offline Payment Aggregator appeared first on Inc42 Media.
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