Vishwas Patel, joint managing director of Infibeam Avenues, said, “We are grateful to RBI for granting us the Payment Aggregator license. The final payment aggregator licence granted by the RBI is a monumental boost for our payment business. And with this licence we will allow us to continue the seamless and secure digital payment growth and increase financial inclusivity for the masses.”

Vishal Mehta, chairman and managing director of Infibeam Avenues, said, “We are thrilled and thankful to receive the final approval from the RBI. This PA license along with the BBPOU license is a testament to our commitment to innovation and excellence. We have successfully captured significant market share in the payment gateway and the Bill Payments space, and we are now poised for even greater expansion in the coming months and will now gear up for an accelerated market share growth.”

Infibeam Avenues is one of the leading global financial technology (fintech) company offering comprehensive digital payment solutions and enterprise software platforms to businesses and governments across industry verticals. The company's payment infrastructure solution includes acquiring and issuing solutions and offering infrastructure for banks.

The company reported 64% jump in consolidated net profit to Rs 42.1 crore as compared with Rs 25.7 crore in Q3 FY23. Revenue from operations was at Rs 912 crore in Q3 FY24, steeply higher than Rs 414.7 crore in Q3 FY23.