Infibeam Avenues saw a surge of more than 8 percent in its stock price on March 5, following the announcement that the AI-powered fintech company had received the ultimate authorization from the Reserve Bank of India (RBI) to function as a payment aggregator for CCAvenue under the Payment Settlements Act of 2007.Back in October 2022, Infibeam Avenues had obtained preliminary approval from the banking regulator to function as a Payment Aggregator (PA). Now, the RBI has officially granted the company the final license to operate as a Payment Aggregator.