In a key regulatory milestone for India’s fintech sector, Razorpay’s offline payments arm, Razorpay POS, has received approval from the Reserve Bank of India (RBI) to function as an offline payment aggregator, strengthening its position in the payments ecosystem.
The company said this authorisation completes its regulatory portfolio, as Razorpay now holds all 3 major RBI licences. These include the online payment aggregator licence, the cross-border payment aggregator licence secured in December 2025, and the newly granted offline payment aggregator licence.
With the PA-P licence in place, Razorpay POS is set to expand its in-store payment infrastructure at scale. The approval enables the company to support high-volume offline transactions across multiple sectors, ranging from large retail chains to Small and Medium Enterprises (SMEs).
Commenting on the development, Razorpay MD and Co-founder Shashank Kumar said, “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 entered the offline payments segment after acquiring Ezetap in August 2022. Since then, the company has built a wide range of offline payment solutions tailored for physical retail environments.
At present, Razorpay POS offers multiple hardware options to merchants. These include Android Smart POS machines, magnetic stripe POS (mPOS) devices, and soundbox solutions designed to simplify payment confirmations and improve transaction efficiency at the point of sale.
The latest RBI approval allows Razorpay POS to deepen its offline footprint while aligning closely with regulatory standards. It also reflects the growing focus on compliant, omnichannel payment solutions as businesses increasingly integrate online and offline operations.
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