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Razorpay POS, the offline payments arm of fintech firm Razorpay, said it has received the Payment Aggregator – Physical (PA-P) licence from the Reserve Bank of India (RBI), enabling it to operate as an authorised payment aggregator for in-store transactions.
The company said the approval strengthens its regulatory standing in offline payments and allows it to support high-volume, in-store payment processing for businesses such as large retailers, enterprises and small and medium firms.
Razorpay added that with this authorisation, it now holds three key RBI permissions covering online, offline and cross-border payments. The company said it secured its cross-border authorisation in December 2025.
Commenting on the development, Shashank Kumar, MD and co-founder of Razorpay, said the licence strengthens the firm’s ability to provide compliant in-store payment solutions as businesses expand their omnichannel presence.
The RBI’s PA-P framework is aimed at bringing physical payment aggregation under regulatory oversight, as more businesses integrate online and offline payment acceptance. Razorpay said the licence supports its plans to serve merchants operating across both digital and in-store channels.
The company said the approval strengthens its regulatory standing in offline payments and allows it to support high-volume, in-store payment processing for businesses such as large retailers, enterprises and small and medium firms.
Razorpay added that with this authorisation, it now holds three key RBI permissions covering online, offline and cross-border payments. The company said it secured its cross-border authorisation in December 2025.
Commenting on the development, Shashank Kumar, MD and co-founder of Razorpay, said the licence strengthens the firm’s ability to provide compliant in-store payment solutions as businesses expand their omnichannel presence.
The RBI’s PA-P framework is aimed at bringing physical payment aggregation under regulatory oversight, as more businesses integrate online and offline payment acceptance. Razorpay said the licence supports its plans to serve merchants operating across both digital and in-store channels.
