Policy · Financial Services
InstiFi gets RBI approval for offline payments
By Startup Enthusiast ·
- Date
- Company
- InstiFi
- What it does
- Goa-based payment aggregator
- Kind
- Policy
- Based in
- Goa
- Sector
- Financial Services
What they do
InstiFi is a Goa-based payment aggregator providing digital payment solutions
What happened
The RBI granted authorization for offline payment aggregation effective January 8, 2026
Why it matters
This allows InstiFi to offer POS and Sound Box static QR services nationwide
The details
- The RBI authorized InstiFi for offline payment aggregation on January 8, 2026.
- This follows an earlier online payment aggregator authorization granted on June 3, 2025.
- The new license enables POS and Sound Box static QR payment solutions.
- InstiFi began merchant onboarding and digital services after its June 2025 authorization.
- The company targets SMBs, retailers, and enterprises in semi-urban regions.
- CEO Prakash Ravindran leads the company's operations and strategy.
- InstiFi emphasizes a human-first support model with real-time assistance.
The bigger picture
- It positions InstiFi as a comprehensive partner for businesses across sectors.
- The move supports financial inclusion in underserved Indian regions.
About the business
- InstiFi operates as a payment aggregator based in Goa.
- It provides both online and offline payment processing services.
- The company offers POS terminals for in-store transactions.
- Sound Box devices enable static QR code payments for merchants.
- Services target small businesses, retailers, and large enterprises.
- InstiFi focuses on serving semi-urban and underserved markets.
- The firm uses a human-first support model for customer service.
- Real-time human assistance is available for merchant queries.
- Digital payment services were launched following the June 2025 license.
What happens next
- InstiFi will expand its offline payment solutions nationwide.
Founders
- Prakash Ravindran, CEO and Director
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