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.