Infibeam Avenues receives RBI approval to operate as offline payment aggregator

Infibeam Avenues has received authorisation from the Reserve Bank of India (RBI) to operate as a payment aggregator for physical (offline) payments under the Payment and Settlement Systems Act, 2007.

The approval enables the company to offer offline payment aggregation services—mainly through Point of Sale (POS) devices—alongside its existing online payment aggregator licence.

The company said the move allows it to support merchants with unified digital and offline payment solutions.

This marks Infibeam Avenues’

fourth RBI licence for its payments business under the CCAvenue brand. It already holds licences for online payment aggregation, prepaid payment instruments, and Bharat Bill Pay Operating Unit.

The offline payment aggregator framework covers POS terminals deployed at merchant outlets by banks and fintech firms. Infibeam Avenues has been increasing its participation in this segment since last year, including through the introduction of its SoundBox Max device that can accept payments via UPI, cards, and QR codes.

RBI data shows POS terminal installations grew 24.7% in FY25 to reach 11 million devices. Market research reports project the Indian POS device market—valued at ₹38.82 billion in 2024—to grow at a compound annual rate of 13.3% and reach ₹135.32 billion by 2034.

With the latest approval, the company expects to expand its presence in India’s offline and digital payments ecosystem.

At the time of writing this report, shares of Infibeam Avenues were nearly 3% high at 19.63 on the BSE.