- Fourth RBI licence strengthens CCAvenue’s position in India’s fast-growing payments ecosystem
- Approval enables nationwide expansion of POS-led digital transactions as offline adoption surges
NE BUSINESS BUREAU
GANDHINAGAR, NOV 17
Infibeam Avenues Ltd, the AI-driven fintech player behind the CCAvenue brand, has secured authorisation from the Reserve Bank of India (RBI) to operate as a Payment Aggregator for physical (offline) transactions under the Payment and Settlement Systems Act, 2007. The approval marks a significant milestone, allowing the company to consolidate its presence across both online and offline merchant payments.
The new licence empowers Infibeam Avenues to offer a full suite of offline payment aggregation services, including Point of Sale (POS) infrastructure, in addition to its already operational online payment aggregator licence. This expansion positions the company to deliver a unified and comprehensive digital payments ecosystem for merchants of all sizes across India.
This is the fourth major RBI authorisation secured by the company for its payments business. Over the past few years, Infibeam Avenues has obtained key regulatory approvals for Payment Aggregator – Online (PAO), Prepaid Payment Instruments (PPI), and Bharat Bill Pay Operating Unit (BBPOU), reinforcing its compliance-driven strategy.
“Our strongest strength lies in our compliance-driven approach across all payment services. This licence advances our ability to deploy POS devices in a more structured manner for merchants nationwide, especially as POS adoption continues to rise alongside India’s growing economy,” said Vishwas Patel, Joint Managing Director, Infibeam Avenues Ltd.
The offline payment aggregator licence mainly covers POS terminals deployed by fintechs and banks at merchant touchpoints. Infibeam Avenues has been accelerating its footprint in this segment since the launch of the CCAvenue SoundBox Max—an integrated POS device capable of accepting payments via UPI, debit cards, credit cards, and QR codes.
India’s POS ecosystem continues to expand at an impressive pace. According to RBI data, the number of POS terminals surged 24.7% in FY 2024-25, reaching 11 million installations. Market projections suggest even stronger momentum ahead: the Indian POS device market, valued at INR 38.82 billion in 2024, is expected to grow at a CAGR of 13.3%, touching INR 135.32 billion by 2034.
With the latest RBI approval, Infibeam Avenues is strategically positioned to deepen its role in India’s evolving digital payments landscape, particularly as offline and online channels converge to drive the next phase of financial inclusion and retail digitisation.
