Infibeam Avenues Ltd deepens its reach in digital payments

Infibeam Avenues Limited (IAL), India's first listed (BSE & NSE in 2016) fintech infrastructure company headquartered in GIFT City, Gujarat, India, is further expanding its base and reach in the digital payments ecosystem, It has recently received "in-principle" approval from Reserve Bank of India (RBI) to operate as a Payment Aggregator and a perpetual license from the RBI for its bill payments business, BillAvenue, for operating as a Bharat Bill Payment Operating Unit (BBPOU) under Bharat Bill Payment System (BBPS).

Today, IAL has more than 6 million merchants using its platform & payment infrastructure and has panned out in overseas markets like the USA, KSA UAE, and Australia. As a leading digital payment player, IAL has the highest portfolio of payment options for merchants with over 200+ multi-currency payment options in India alone with a run rate of 4 lakh crore annually across the platform.

Till date it has undertaken various strategic initiatives, including M&A, divestments of non-core businesses, and strategic investments into high growth payment companies across the payment ecosystem and has built strong portfolio of B2B brands like:

CCAvenue - Among the leading digital payment gateway in India and the UAE

CCAvenue TapPay - A Soft-POS with 200+ payment options

BillAvenue - Bill Payments with 90% market share of billers in India

ResAvenue - Hospitality Payments serving 3000+ hotels including most marquee hotel brands in India

TrustAvenue - Lending Marketplace for millions of merchants in India

Founded by Mr. Vishal Mehta, IAL has remained a profitable digital payments venture since a decade. A Cornell University, USA and MIT, USA graduate, Mr. Vishal Mehta who went on to play a key role in revitalizing technology at Amazon.com in the US and decided to return to India in 2007 and founded Infibeam to build one of the prominent fintech companies.

For more than a decade, Infibeam Avenues has been at the forefront of simplifying digital transactions globally for businesses across sectors through innovation and tech adaptation. With additional growth drivers such as consistently converting EBITDA into free cash, an almost debt-free company, and a major CAPEX cycle behind, Infibeam is charting a focused growth strategy in the upcoming years. The changing fintech scenario with the rapid digitisation of transactions in India and the massive potential for further growth, launch of the 5G network, and the acceptance of sophisticated fintech products will provide impetus to the payment sector in the coming days.

Among others, Infibeam offers its marketplace software platform, BuildaBazaar (BAB), to two of India's four largest eCommerce organisations - GeM and Jio Mart.

Currently, 6.4 million merchants are on Infibeam's platform (double from last year), which increased to an average of 8,000 per day in Q1'23 and could grow significantly due to the mass adoption of digitalization. This merchant base along with the insights we generate from their transactions will help us to monetize on this rich data by offering financial services to merchants.

Shares of Infibeam Avenues Limited was last trading in BSE at Rs. 16.45 as compared to the previous close of Rs. 16.90. The total number of shares traded during the day was 694725 in over 1837 trades.

The stock hit an intraday high of Rs. 17.00 and intraday low of 16.25. The net turnover during the day was Rs. 11509426.00.

Source : Equity Bulls

Keywords

InfibeamAvenues INE483S01020 DigitalPayments RBIApproval PaymentAggregator BillPayments BillAvenue