Infibeam Avenues gets RBI nod for offline payment aggregation

Infibeam Avenues has received final regulatory authorisation from the Reserve Bank of India to operate as an offline payment aggregator, enabling it to handle in-store card and QR-based transactions via POS devices.

The company already holds licences for online payment aggregation, prepaid payment instruments (PPI), and Bharat Bill Pay. The firm recenty obtained in-principle approval from RBI to issue PPIs.

With the new approval, Infibeam Avenues can now deploy and manage POS machines across merchant outlets under its CCAvenue brand. 

Infibeam operates…