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Fintech major Razorpay's offline payments arm, Razorpay POS, on Thursday said it has secured licence from the Reserve Bank of India (RBI) to act as an offline payment aggregator. With this authorisation, Razorpay now holds all three key RBI licences-online payment aggregator, cross-border payment aggregator (secured in December 2025), and offline payment aggregator, according to a company statement. The PA-P licence will allow Razorpay POS to further scale its in-store payment infrastructure, supporting high-volume transactions for diverse sectors ranging from large retail chains to Small and Medium Enterprises (SMEs). "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 MD and Co-founder Shashank Kumar said. The company, which entered the offline space following t
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Fintech firm Razorpay has partnered with NPCI BHIM Services Ltd (NBSL) and Axis Bank to launch the Razorpay Turbo UPI plugin on the BHIM Vega platform. The solution enables businesses to offer seamless in-app payment experiences, allowing customers to complete transactions instantly without switching to third-party apps. "BHIM Vega -- Razorpay's Partner Businesses can now accept in-app payments, and end-customers can complete payments instantly within the app without switching to third-party apps, reducing friction in online transactions and delivering a high-speed payment experience," a company statement said. The partnership aims to reduce friction in online payments, increase transaction success rates, and streamline user onboarding. "Our partnership with BHIM to integrate Turbo UPI with BHIM Vega... removes one of the biggest pain points in UPI payments -- redirections -- allowing customers to complete transactions instantly within the app. "This means fewer drop-offs, higher
The company recorded growth across categories such as apparel, bookstores, cafes and restaurants, and jewellery, among others, between April 2024 and March 2025
The move comes at a time when other players, including PhonePe, Cashfree Payments, and Razorpay, made similar moves nearly two months ago