Infibeam Avenues Shares Surge 4% on Securing Approval from RBI
Shares of Infibeam Avenues Ltd soared 4% on 17 November after the company announced securing approval from the Reserve Bank of India (RBI) to function as a payment aggregator for physical (offline) payments under the Payment and Settlement Systems Act, 2007.
The approval permits the company to offer offline payment aggregation services, mainly through Point of Sale (POS) devices, alongside its existing online payment aggregator licence.
The company stated that the move enables it to provide retailers with unified digital and offline payment solutions.
This is Infibeam Avenues’ fourth RBI licence for its payments company under the CCAvenue brand. It currently holds licenses for online payment aggregation, prepaid payment instruments, and the Bharat Bill Pay Operating Unit.
The offline payment aggregator framework includes POS terminals installed in merchant outlets by banks and fintech companies. Infibeam Avenues has been expanding its presence in this area since last year, with the release of its SoundBox Max device, which accepts payments via UPI, cards, and QR codes.
According to RBI data, POS terminal installations increased by 24.7% in Fiscal Year 25 to 11 million devices. According to market research, the Indian POS device market is expected to increase at a CAGR of 13.3% to Rs 135.32 billion by 2034, from Rs 38.82 billion in 2024.
With the current approval, the company plans to increase its footprint in India’s offline and digital payment ecosystems.
At 3:30 pm, the shares of Infibeam Avenues closed 2.15% higher at Rs 19.48 on NSE.
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