India, Jan. 22 -- Over a month after receiving the Payment Aggregator-Cross Border (PA-CB) licence from the Reserve Bank of India (RBI), fintech major Razorpay has now secured the Payment Aggregator - Physical (PA-P) Licence from the apex bank.

In a statement, the IPO-bound startup said that the licence would allow its offline payments vertical, Razorpay POS, to support high-volume, in-store payments for businesses operating at any scale.

Razorpay POS already offers products like mPOS devices, smart POS machines, and soundboxes for merchants seeking offline payment solutions. With this regulatory approval, it will now be able to further expand its offerings in the space.

Important to highlight that the fintech startup's application for...