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Razorpay POS gets RBI approval for offline payment aggregator licence

EntrackrEntrackr · 1m ago
Razorpay POS gets RBI approval for offline payment aggregator licence
Medial

Razorpay POS gets RBI approval for offline payment aggregator licence Razorpay POS, the offline payments arm of Razorpay, has received the Payment Aggregator Physical (PA-P) licence from the Reserve Bank of India (RBI). With this approval, Razorpay now holds all three key RBI payment licences: online payment aggregator, offline (physical) payment aggregator, and cross-border payment aggregator, placing it among a small group of fintech companies authorised to operate end-to-end across India’s payments ecosystem. In recent months, RBI approved online, offline and cross border payment aggregation for around half a dozen companies. These include Paytm, Razorpay, Easebuzz, PayU, Pine Labs and Airpay. With these clearances, the firms are authorised to offer a full stack of payment aggregator services across ecommerce transactions, in-store merchant payments and cross-border payment flows. The PA-P licence allows Razorpay POS to onboard merchants and process in-store digital payments at scale, covering large retailers, enterprises, and small and medium businesses. The company already operates across India’s offline commerce ecosystem through devices such as mPOS terminals, smart POS machines, soundboxes, and pin-on-mobile solutions. Razorpay entered the offline payments segment in 2022 through the acquisition of Ezetap, which was later rebranded as Razorpay POS. Since then, the company has expanded its physical payments footprint alongside its core online payments business. With the offline licence in place, Razorpay can now offer a fully compliant payment infrastructure across digital, in-store, and cross-border transactions.

airpay secures all three RBI payment-aggregator licences

EntrackrEntrackr · 2m ago
airpay secures all three RBI payment-aggregator licences
Medial

airpay secures all three RBI payment-aggregator licences Mumbai-based airpay Payment Services has received authorisation from the Reserve Bank of India (RBI) to operate across the full payment-aggregator framework, completing approvals for online (PA-O), physical/POS and QR (PA-P), and cross-border (PA-CB) services. With this, airpay now joins a small group of regulated players that can handle domestic and international payments across online and offline merchant touchpoints on a single compliant stack. The recent list includes Razorpay, Easebuzz, PayU and Pine Labs. The company said the approvals will allow it to offer collections, payouts and settlements for Indian enterprises, D2C brands and SMEs selling both within India and overseas. airpay expects the expanded licence set to drive a 30–40% increase in processing volumes over the next 6–12 months. It is also projecting over 20% of its revenue to come from cross-border flows in this period, alongside the onboarding of more than 50,000 merchants. Founded in 2012, airpay operates in UPI acquiring, QR, payment links, PoS and merchant lifecycle management. With all three licences in place, the company is now positioned to support online, offline and cross-border commerce from a single regulated infrastructure as Indian businesses expand beyond domestic markets. This is expected to reduce settlement risk and compliance overhead for exporters, SaaS firms, subscription businesses and D2C brands targeting markets in Europe, the Middle East, and Southeast Asia. Disclaimer: Bareback Media has recently raised funding from a group of investors. Some of the investors may directly or indirectly be involved in a competing business or might be associated with other companies we might write about. This shall, however, not influence our reporting or coverage in any manner whatsoever. You may find a list of our investors here.

NRAI warns restaurants about aggregator payment gateways, deep discounting

YourStoryYourStory · 1y ago
NRAI warns restaurants about aggregator payment gateways, deep discounting
Medial

The National Restaurant Association of India (NRAI) has warned its members about the deep discounting and payment gateway tools offered by aggregator platforms for dine-in operations. The NRAI has urged restaurants to only use aggregator payment platforms if they are separate from other services and make financial sense as an independent payment gateway. The association believes that aggregators use deep discounting to attract customers, including existing restaurant customers, to their platforms. The NRAI advises restaurant owners to avoid participating in deep discounting and aggregator payment gateway tools, as the benefits are short-term and could have long-term negative effects.

EximPe gets final PA-CB licence to process UPI cross-border payments

EntrackrEntrackr · 10d ago
EximPe gets final PA-CB licence to process UPI cross-border payments
Medial

EximPe, a cross-border payment startup, has received final authorisation from the Reserve Bank of India for the Payment Aggregator Cross Border (PA-CB) licence. The approval allows EximPe to enable global merchants to collect payments from Indian customers through UPI and other local payment methods, with settlements into offshore accounts. With the PA-CB licence, EximPe can allow international merchants and payment platforms to collect via UPI, cards, wallets, net banking, and bank transfers from India without setting up a local Indian entity. The company said this will help improve payment success rates and reduce friction for cross-border collections. Prior to receiving the licence, EximPe operated as a technology service provider to banking partners and has facilitated over $500 million in bank-led cross-border trade payments across Asia corridors. The company has now transitioned to operating directly as a cross-border payment aggregator under the RBI framework. According to EximPe, it aims to process $1 billion in annualised UPI-led cross-border transactions over the next 24 months. Founded by Arjun Zacharia, EximPe operates across corridors such as India–China, India–Hong Kong, India–Singapore, and India–ASEAN, and focuses on enabling compliant, UPI-led cross-border payment infrastructure for global businesses. EximPe has raised $3.5 million in seed funding led by Leo Capital, with participation from Beta Lab, RB Investments, along with several angel investors. In recent months, RBI approved online, offline and cross border payment aggregation for around half a dozen companies. These include Razorpay POS, Paytm, Razorpay, Easebuzz, PayU, Pine Labs and Airpay. With these clearances, the firms are authorised to offer a full stack of payment aggregator services across ecommerce transactions, in store merchant payments and cross border payment flows.

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