RBI Authorizes AvenuesAI to Launch Prepaid Payment System

GANDHINAGAR — India’s central bank, the Reserve Bank of India (RBI), has granted official authorization to digital fintech enterprise AvenuesAI Limited (formerly Infibeam Avenues Limited) to set up and operate a Prepaid Payment Instruments (PPI) system. The company announced the regulatory milestone via statutory disclosures submitted to stock exchanges on Friday, July 24, 2026.

The authorization, conveyed through RBI Letter CO.DPSS.AUTH.No.S332/02.27.004/2026-27 dated July 24, 2026, permits AvenuesAI to issue and manage digital PPIs nationwide under the Payment and Settlement Systems Act, 2007. The regulatory approval expands AvenuesAI’s operational ecosystem—known prominently for its flagship payment gateway brand GoWallet—enabling the firm to offer digital wallets, pre-funded payment cards, and stored-value digital solutions to merchants and consumers across India.

Strategic Significance of the RBI PPI License

The authorization enables AvenuesAI to deepen its integration within India’s digital payments architecture. Under the regulatory framework established by the RBI, Prepaid Payment Instruments (PPIs) facilitate the purchase of goods and services, financial transfers, and remittance facilities against the value stored within the instruments.

The approval aligns with AvenuesAI’s corporate repositioning and technological expansion. Headquartered out of India's international financial hub at GIFT City, Gandhinagar, the enterprise has progressively broadened its financial technology infrastructure to encompass artificial intelligence payment analytics, merchant acquiring, and full-stack digital transaction management.

Market Positioning and Governance Requirements

The authorization requires AvenuesAI to adhere strictly to the central bank’s operational, security, and Know Your Customer (KYC) directives for digital payment systems.

By securing a dedicated PPI license, AvenuesAI transitions from operating purely as a payment gateway aggregator to a direct issuer of payment instruments. This capability provides several key corporate advantages:

• Direct Customer Engagement: Allows the company to issue direct-to-consumer and corporate digital wallets without reliance on third-party banking issuers.

• Enhanced Merchant Ecosystem: Provides integrated settlement and closed-loop or semi-closed payment options for e-commerce merchants utilizing the platform.

• Capital and Operational Compliance: The license requires strict escrow account maintenance, robust cybersecurity standards, and risk mitigation protocols as specified by the central bank.

The company submitted details of the regulatory approval in compliance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, alongside the SEBI Master Circular dated January 30, 2026.

Official Sources Section

Regulatory filings and regulatory oversight documents confirm the authorization details:

• Central Bank Regulator: The
  Reserve Bank of India (RBI)
  under the Payment and Settlement Systems Act, 2007.

• Stock Exchange Disclosures: Disclosures filed with
  BSE Limited
  (Scrip Code: 539807) and the
  National Stock Exchange of India
  (Symbol: CCAVENUE).

• Corporate Identification: Issued by Shyamal Trivedi, Senior Vice President & Company Secretary, AvenuesAI Limited (CIN: L64203GJ2010PLC061366).

Quote Section

"Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that the Reserve Bank of India vide its Letter dated July 24, 2026 has authorized our Company i.e. AvenuesAI Limited (GoWallet) to set up a payment system for Issuance and Operation of Prepaid Payment Instruments under the Payment and Settlement Systems Act, 2007," stated Shyamal Trivedi, Senior Vice President & Company Secretary of AvenuesAI Limited.

Why It Matters

For online merchants, enterprise clients, and retail consumers, direct PPI issuance by payment providers like AvenuesAI enhances digital checkout options, speeds up transaction settlements, and improves refund handling capabilities.

For equity investors and financial sector observers, the regulatory authorization increases AvenuesAI's addressable market in India’s expanding fintech ecosystem. By controlling both the payment processing infrastructure and the issuance instrument, the company can drive higher customer retention, reduce transaction processing costs, and capture additional yield within its payments value chain.

Key Facts at a Glance

• Regulatory Approval: RBI grants authorization for Prepaid Payment Instruments (PPIs).

• Governing Statute: Payment and Settlement Systems Act, 2007.

• Recipient Company: AvenuesAI Limited (formerly Infibeam Avenues Limited).

• Key Brand: GoWallet digital payment system.

• Exchange Symbols: BSE Code 539807 / NSE Symbol CCAVENUE.

Frequently Asked Questions (FAQ)

What authorization did AvenuesAI receive from the RBI?

The Reserve Bank of India authorized AvenuesAI Limited to set up and operate a payment system for issuing and operating Prepaid Payment Instruments (PPIs).

What are Prepaid Payment Instruments (PPIs)?

PPIs are payment instruments—such as digital wallets, smart cards, or pre-funded payment vouchers—that facilitate purchases, financial services, and remittances against the pre-stored monetary value.

What is the former name of AvenuesAI Limited?

AvenuesAI Limited was formerly known as Infibeam Avenues Limited.

Under which statute was the approval granted?

The authorization was granted under the Payment and Settlement Systems Act, 2007, via official RBI communication dated July 24, 2026.

Where is AvenuesAI Limited headquartered?

The company's registered office is located in GIFT City, Gandhinagar, Gujarat, India.

Source: Reserve Bank of India, BSE Limited Corporate Announcements, National Stock Exchange of India Filings, AvenuesAI Official Website.