New Delhi, Oct. 29 -- Infibeam Avenues Ltd has received an 'In-Principle' authorization from the Reserve Bank of India (RBI) to issue Prepaid Payment Instruments (PPIs), the company said in its media release. The approval allows the fintech firm to move closer to offering a new line of digital payment solutions under its brand, CCAvenue Go.

According to the RBI's direction, Infibeam Avenues must complete a system audit within six months and submit the report to the central bank. Once the audit is approved, the RBI will issue the final authorization, enabling the company to officially launch its prepaid products.

The company said it plans to introduce a full range of prepaid payment options, such as PPI wallets, prepaid gift cards, and t...