Infibeam Avenues has received perpetual license from the Reserve Bank of India (RBI) for its bill payments business, BillAvenue, for operating as a Bharat Bill Payment Operating Unit (BBPOU) under Bharat Bill Payment System (BBPS). As a BBPOU, BillAvenue operates as both biller and customer operating unit onboarding Billers and Agent Institutions to service the customers.
The perpetual license will help the company to offer safe, secure and uninterrupted services to its 18,000 plus billers, agent institutions and its network of one million agents spread across 2000 cities and towns of India. It will also help expand into the hinterlands of India.
Infibeam Avenues is engaged in providing online retail services.
