Fintech company Infibeam Avenues has received final nod from the RBI to operate as an offline payment aggregator, allowing it to handle in-store card and QR transactions through POS devices under its CCAvenue brand. This strengthens the company’s offline presence following the launch of the Soundbox Max device.

The approval brings several regulatory wins for the company, including an in-principle PSP license at Gift City and a TPAP license for RediffPay. Infibeam is focusing on payments and AI, selling its e-commerce platform to Rediff.com and raising funds to expand its AI capabilities.

Financially, the company reported a profit of ₹67.7 crore and a 93% increase in operating income to ₹1,964.9 crore in the second quarter of its second fiscal. Its shares were trading 2.8% higher at ₹19.60 on the BSE.