Razorpay POS secures RBI licence to operate as offline payment aggregator

A month after getting the Payment Aggregator-Cross Border (PA-CB) licence from the Reserve Bank of India (RBI), fintech giant Razorpay has now also received the Payment Aggregator – Physical (PA-P) licence from the central bank.

In a statement, the IPO-bound startup said the licence will let its Razorpay POS system handle large-volume, in-store payments for businesses of all sizes.

Razorpay POS already provides mPOS devices, smart POS machines, and soundboxes for merchants needing offline payment solutions. With this new regulatory approval, it can now expand its products and services even further.

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“In-store commerce continues to power a large part of india’s economy and building payment infrastructure for it begins with trust and regulatory alignment. For us, regulation isn’t an afterthought; it’s core to how we build. Securing the RBI’s Offline Payment Aggregator License further strengthens our ability to support businesses with scalable, compliant in-store payments as they expand their omnichannel presence,” Razorpay’s cofounder and managing director Shashank Kumar said

In recent months, the RBI has been issuing the three main Payment Aggregator (PA) licences — online, offline, and cross-border. Several fintech companies, including Paytm, Pine Labs, PhonePe, PayU, Mswipe, and Airpay, have received all three approvals.

Having all three PA licences lets fintechs accept payments across all channels, ensures compliance, and opens up bigger opportunities with merchants and enterprises.

Razorpay, founded in 2014 by Kumar and Harshil Mathur, is a full-stack payments and financial services platform serving over 8 million businesses. Its offerings include payment acceptance, disbursals, lending and business banking.

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Over the years, Razorpay has expanded its portfolio with products like RazorpayX for neo-banking and Razorpay Capital for lending. The company has also partnered with government initiatives, including ONDC, to integrate its services further.

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