The Reserve Bank of India (RBI) has given in-principle approval to fintech firm Infibeam Avenues to operate as a payment aggregator. Founded in 2007 by Vishal Mehta and Vishwas Patel, Infibeam provides over 200 multi-currency payment options to merchants. In March 2020, the RBI issued new guidelines mandating that all payment aggregators be authorised by it.