Infibeam Avenues gets RBI nod to process offline payments
What's the story
Infibeam Avenues has received authorization from the Reserve Bank of India (RBI) to act as a payment aggregator for offline transactions. The approval, granted under the Payment and Settlement Systems Act, 2007, allows Infibeam to provide offline payment aggregation services primarily via Point of Sale (POS) devices. This comes in addition to its existing online payment aggregator license.
Business expansion
Infibeam's strategy to support merchants
The latest RBI approval is a strategic move by Infibeam Avenues to provide merchants with an integrated solution for both digital and offline payments. This marks the company's fourth RBI license for its payments business under the CCAvenue brand. It already holds licenses for online payment aggregation, prepaid payment instruments, and Bharat Bill Pay Operating Unit.
Market growth
Infibeam's role in India's growing POS market
The offline payment aggregator framework includes POS terminals installed at merchant locations by banks and fintech companies. Infibeam Avenues has been actively participating in this space since last year, launching its SoundBox Max device that accepts payments via UPI, cards, and QR codes. According to RBI data, installations of POS terminals grew 24.7% in FY25 to reach 11 million devices.
Future prospects
Infibeam's future plans and market projections
The Indian POS device market, which was valued at ₹38.82 billion in 2024, is expected to grow at a compound annual growth rate (CAGR) of 13.3% and reach ₹135.32 billion by 2034. With the latest RBI approval, Infibeam Avenues hopes to further strengthen its foothold in India's offline and digital payments ecosystem. At the time of writing, shares of Infibeam Avenues were nearly 3% high at ₹19.63 on the BSE.