Infibeam Avenues Ltd received the final authorisation for operating as an Online Payment Aggregator by the Reserve Bank of India (RBI).

Banking & Finance

Infibeam Avenues Ltd received the final authorisation for operating as an Online Payment Aggregator by the Reserve Bank of India (RBI). The in-principle approval for this authorisation was granted in October 2022. Currently, a total of over 10 million merchants are available on Infibeam’s CCAvenue platform, with the company crossing the onboarding of half a million merchants in the first half of financial year 2024 itself.


      The Reserve Bank of India had introduced the payment aggregator framework in March 2020, as per which, it is mandatory for payment gateways to secure an aggregator license in order to acquire merchants as well as deliver cutting-edge digital payment acceptance solutions.

     

     

 

     


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