Mumbai: Infibeam Avenues just got the green light from the Reserve Bank of India to act as a payment aggregator for offline transactions. Basically, this means the company can now handle payments made in person—think Point of Sale (POS) terminals, not just online payments. It’s a big step, expanding their footprint into the physical payments world.
This is actually Infibeam’s fourth RBI licence for its CCAvenue payments business. They already have approvals for online payment aggregation, prepaid payment instruments, and as a Bharat Bill Pay Operating Unit. Adding this new offline licence lets Infibeam offer both digital and in-person payment solutions, making things simpler for merchants and helping more retailers and businesses join their network.
The offline payments market in India is heating up fast. The RBI’s rules for payment aggregators now cover POS terminals run by banks and fintech companies. Infibeam’s been pushing into this scene since last year, with devices like the SoundBox Max that can process payments through UPI, cards, and QR codes.
The numbers back up this move—POS adoption in India is on a tear. In FY25, installations jumped almost 25 percent, hitting 11 million devices. And the market’s only getting bigger. Projections say the POS device market, worth almost Rs 39 billion in 2024, could soar to over Rs 135 billion by 2034, growing at over 13 percent every year.
Investors seem to like where this is going. After the RBI’s approval, Infibeam Avenues’ stock climbed nearly 3 percent to Rs 19.63 on the BSE, showing confidence in the company’s expanding role in India’s growing payments ecosystem.
