Razorpay’s offline payment arm, Razorpay POS, has received the Payment Aggregator – Physical (PA-P) licence from the Reserve Bank of India (RBI).
This means the company can now act as an offline payment aggregator for in-store transactions.
With this licence, Razorpay strengthens its ability to handle high-volume payments across different business types—from large retail chains to small and medium enterprises (SMEs).
Shashank Kumar, Razorpay MD and Co-founder, told PTI, “Regulation isn’t an afterthought; it’s core to how we build.
Securing the RBI’s Offline Payment Aggregator Licence strengthens our ability to support businesses with scalable, compliant in-store payments.”
Razorpay Now Holds Three Key RBI Licences
Razorpay already holds two other major licences:
PA-O: Payment Aggregator – Online licence
PA-CB: Payment Aggregator – Cross-border licence (secured in December 2025)
The PA-CB licence allows Razorpay to facilitate both inward and outward cross-border payments, making it one of the few fintech companies in India with regulatory approval for international transactions.
What Is a Payment Aggregator and PA-P Licence?
A payment aggregator is a platform that facilitates payments between customers and merchants, either online or offline, and transfers the collected funds to the merchant.
The PA-P licence specifically allows aggregators to handle in-person payments at physical points of sale. This includes:
Swiping credit or debit cards
Scanning QR codes
Other in-store payment methods
These licences are regulated by RBI, ensuring safe and compliant transactions for businesses and customers.
About Razorpay and Its Offline Payment Hardware
Razorpay acquired Ezetap in August 2022 to expand into India’s offline payments market.
Today, the fintech offers a range of hardware solutions, including:
Android Smart POS
Magnetic POS (mPOS)
Soundbox devices
These tools make it easier for businesses to accept payments both online and offline, helping them grow their omnichannel presence.
Razorpay’s PA-P licence is a big step in strengthening India’s in-store payment ecosystem, making it easier for businesses of all sizes to accept secure and compliant payments.
