Innoviti Payments, Concerto Software get RBI payment aggregator licences

Offline point-of-sales deploying company Innoviti Payments and payment gateway Vegaah, which is run by Concerto Software and Systems, have secured the online payment aggregator (PA) licence from the Reserve Bank of India, joining the likes of MSwipe, Razorpay, Cashfree, and Zomato.

CCAvenue, which is run by listed fintech company Infibeam Avenues, also received its PA licence from the RBI earlier this month.

As PAs, these companies are authorised to settle ecommerce transactions. The licence also brings these payment companies directly within the purview of RBI regulations.


Bengaluru-based Innoviti has around 2,500 online merchants who are using its online payment system named ‘Innoviti Link’.

Through Link, Innoviti, which currently runs the offline payment service for large retailers like DMart, Tanishq and Shoppers Stop, wants to offer a unified payment experience to its customers across both offline and online.

MSwipe is another point-of-sales (PoS) player that received the PA licence recently. MSwipe offers online payment service to its offline customers who seek an omnichannel experience for their customers.