India, Nov. 17 -- Fintech company Infibeam Avenues has secured final authorisation from the Reserve Bank of India (RBI) to operate as an offline payment aggregator, a move that will allow the company to handle in-store card and QR-based transactions through POS devices.

With this authorisation, the company can formally deploy and manage POS machines across merchant outlets under its CCAvenue brand. Infibeam has been increasing its offline footprint since the launch of its SoundBox Max device last year, which accepts payments via UPI, cards and QR codes.

The company already holds an online payment aggregator licence, along with prepaid payment instrument (PPI) and Bharat Bill Pay licences.

Infibeam said the licence will help it expand i...