Razorpay POS Receives PA-P Licence for Enhanced Offline Payments

Razorpay POS, a division focused on offline payments under Razorpay, has obtained the Payment Aggregator Physical (PA-P) licence from the Reserve Bank of India (RBI). This approval positions Razorpay as a holder of all three essential RBI payment licences: online payment aggregator, offline payment aggregator, and cross-border payment aggregator. This places Razorpay among a select few fintech firms authorised to function comprehensively within India’s payments ecosystem.

Recent RBI Approvals in Payment Aggregation

In recent times, the RBI has granted approval for various companies in online, offline, and cross-border payment aggregation. The firms that received licences include Paytm, Razorpay, Easebuzz, PayU, Pine Labs, and Airpay. These clearances enable these companies to deliver a comprehensive range of payment aggregator services applicable to e-commerce transactions, in-store merchant payments, and cross-border payment flows.

Capabilities Offered by the PA-P Licence

The PA-P licence empowers Razorpay POS to onboard merchants and facilitate in-store digital payments at scale, serving large retailers, enterprises, as well as small and medium businesses. The company has already established operations in India’s offline commerce landscape by utilising devices such as mPOS terminals, smart POS machines, soundboxes, and pin-on-mobile solutions.

Expansion of Razorpay’s Offline Payment Services

Razorpay made its entry into the offline payments domain in 2022 with the acquisition of Ezetap, which was subsequently rebranded as Razorpay POS. Since this transition, the company has broadened its footprint in physical payments while complementing its core online payment services. With the offline licence in effect, Razorpay is now poised to provide a fully compliant payment infrastructure across digital, in-store, and cross-border transactions.