Shares of Infibeam Avenues Ltd soared 4% on 17 November after the corporate introduced securing approval from the Reserve Financial institution of India (RBI) to perform as a fee aggregator for bodily (offline) funds below the Cost and Settlement Methods Act, 2007.
The approval permits the corporate to supply offline fee aggregation companies, primarily via Level of Sale (POS) gadgets, alongside its present on-line fee aggregator licence.
The corporate acknowledged that the transfer permits it to offer retailers with unified digital and offline fee options.
That is Infibeam Avenues’ fourth RBI licence for its funds firm below the CCAvenue model. It at present holds licenses for on-line fee aggregation, pay as you go fee devices, and the Bharat Invoice Pay Working Unit.
The offline fee aggregator framework consists of POS terminals put in in service provider shops by banks and fintech firms. Infibeam Avenues has been increasing its presence on this space since final yr, with the discharge of its SoundBox Max system, which accepts funds by way of UPI, playing cards, and QR codes.
In keeping with RBI knowledge, POS terminal installations elevated by 24.7% in Fiscal Yr 25 to 11 million gadgets. In keeping with market analysis, the Indian POS system market is anticipated to extend at a CAGR of 13.3% to Rs 135.32 billion by 2034, from Rs 38.82 billion in 2024.
With the present approval, the corporate plans to extend its footprint in India’s offline and digital fee ecosystems.
At 3:30 pm, the shares of Infibeam Avenues closed 2.15% increased at Rs 19.48 on NSE.
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