Infibeam Avenues gets RBI in-principle nod for payment aggregator licence

The RBI allowed another window to PAs existing as of March 2020 to apply to the central bank for a license

Infibeam Avenues, which operates CCAvenue, has received an in-principle approval from the Reserve Bank of India (RBI) to operate as a payment aggregator (PA). It joins a list of entities who have received the in-principle approval from RBI for a PA licence.

The company said this will enable them to further expand their reach in multiple business segments for both online and offline digital transactions.

Several payment providers such as Razorpay, Pine Labs, Stripe, 1Pay, Innoviti Payments, MSwipe, and a few others have received in -principle nod from the RBI for a PA license. More players are also expected to