{"id":70259,"date":"2022-10-28T14:03:00","date_gmt":"2022-10-28T08:33:00","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=70259"},"modified":"2022-10-28T14:01:20","modified_gmt":"2022-10-28T08:31:20","slug":"stock-jumps-20-on-receiving-rbi-approval-for-payment-aggregator-business","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/stock-jumps-20-on-receiving-rbi-approval-for-payment-aggregator-business\/","title":{"rendered":"Stock jumps 20% on receiving RBI approval for payment aggregator business\u00a0"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-2471109949\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>Shares of Infibeam Avenues shot up 19.72% on Friday\u2019s early trades to reach a high of \u20b9 17.30 on the National Stock Exchange. This happened after the company received a payment aggregator license from the Reserve Bank of India.&nbsp;<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-1795421362\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p>Infibeam Avenues is a fintech company that provides software development services, maintenance, web development, payment gateway services, e-commerce and other ancillary services. It is one of the largest payment solutions providers (DSP) in revenue and market share.&nbsp;<\/p><p>The RBI issued a framework for payment aggregators in March. Under this framework, it is mandatory for payment aggregators to obtain a licence for acquiring merchants and provide them with digital payment acceptance solutions. This will help the apex bank to ensure the safety of merchants and consumers.&nbsp;<\/p><p>Post market hours on Thursday, Infibeam Avenues informed the bourses that it has received a licence which permits it to operate as a payment aggregator and provide digital payment services to any merchant online or offline across the country.&nbsp;<\/p><div class=\"trade-content_5\" id=\"trade-2658384428\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>The company added that it will get a substantial boost to further expand its reach in multiple business segments. Further, this approval from the apex bank will reiterate its flagship brand CCAvenue\u2019s position as one of India\u2019s most experienced and secured digital payment gateways.&nbsp;<\/p><p>\u201cWith regulators entrusting faith in us, we promise to ourselves to make all Indian kiranas and merchants Digital, Credible &amp; Bankable(DCB),\u201d said Mr Vishal Mehta, Managing Director, Infibeam Avenues Ltd.&nbsp;<\/p><p>A few other players who received RBI&#8217;s in-principal approval for the licence include Razorpay, Pine Labs, Stripe, Easebuzz, MSwipe, NTT Data Payment Services, Innoviti and 1Pay Mobileware.&nbsp;<\/p><p>Infibeam Avenues processed transactions worth \u20b9 2.8 trillion (US$ 37 billion) in FY22. It has more than 5 million clients across digital payments and enterprise software platforms. Its clientele includes merchants, enterprises, corporations, governments and financial institutions in both Indian as well as international markets.&nbsp;<\/p><blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p><strong>Written by Simran Bafna\u00a0<\/strong><\/p><\/blockquote><h4 class=\"wp-block-heading\" id=\"h-disclaimer\"><strong>Disclaimer<\/strong><\/h4><div class=\"wp-block-image\"><figure class=\"aligncenter size-full is-resized\"><img decoding=\"async\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/02\/warning-disclaimer.png\" alt=\"\" class=\"wp-image-26306\" width=\"256\" height=\"256\"\/><\/figure><\/div><p><strong>The content in this news article is not investment advice. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.<\/strong><\/p><div class=\"trade-after-content\" id=\"trade-1191708762\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>Shares of Infibeam Avenues shot up 19.72% on Friday\u2019s early trades to reach a high of \u20b9 17.30 on the National Stock Exchange. This happened after the company received a payment aggregator license from the Reserve Bank of India.&nbsp; Infibeam Avenues is a fintech company that provides software development services, maintenance, web development, payment gateway [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":62638,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[31,1789],"tags":[3643,4787],"class_list":["post-70259","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-trending-news","tag-upper-circuit","tag-upper-circuit-stocks"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Stock jumps 20% on receiving RBI approval for payment aggregator business\u00a0 - Trade Brains Features<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/stock-jumps-20-on-receiving-rbi-approval-for-payment-aggregator-business\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Stock jumps 20% on receiving RBI approval for payment aggregator business\u00a0\" \/>\n<meta property=\"og:description\" content=\"Shares of Infibeam Avenues shot up 19.72% on Friday\u2019s early trades to reach a high of \u20b9 17.30 on the National Stock Exchange. 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