Rediff.com India, a subsidiary of Infibeam Avenues, has received final approval from the National Payments Corporation of India (NPCI) for its Third-Party Application Provider (TPAP) license.
The approval allows the company to offer UPI services directly through its own platform, Rediff’s strategic entry into the consumer-facing digital payments market.
Following the approval, Rediff.com has rolled out its digital payments platform, RediffPay.
RediffPay is positioned as a wealth multiplier and a financial-wellness customer-centric UPI payment app by encouraging saving and investment, promoting messaging within the app. Axis Bank will act as the Payment System Provider (PSP) bank for RediffPay.
With this approval, the company has commenced Closed User Group (CUG) testing, an essential step before entering the Unified Payments Interface (UPI) ecosystem, and is preparing to launch India’s first UPI app built around a financial-wellness-customer-centric UPI payment app designed to encourage saving, investing and responsible access to credit.
RediffPay aims to blend traditional UPI capabilities with a broader financial wellness and customer centric proposition. Beyond standard bill payments, mobile recharges, and cross-app UPI interoperability payments, the app will encourage better financial habits through curated savings and investment products such as equities, mutual funds (MFs), fixed deposits (FDs), recurring deposits (RDs) and similar other product, alongside a pathway to quick credit, for individuals and merchants seeking convenience of UPI payments, credit access and savings at their fingertips.
The RediffPay platform will also support Credit Line on UPI, expanding access to formal credit, particularly in Tier-2, Tier-3 and smaller towns and cities. Under NPCI’s Credit Line on the UPI framework, users can make merchant payments of up to ₹1,00,000 per day and withdraw up to ₹10,000 in cash via pre-approved credit lines, helping bring new-to-credit consumers into the formal economy through micro-credit for everyday purchases.
RediffPay also plans to onboard small, micro, mid and large merchants across Indian geography by offering RediffPay UPI QR-code-enabled point-of-sale (POS) solutions, integrating merchant credit demand into its UPI ecosystem.
Vishal Mehta, Chairman and Managing Director, Rediff.com India, said, “This approval is a significant milestone for Rediff. It enables us to extend secure, interoperable UPI services through RediffPay and advances our mission to broaden financial inclusion while delivering simple, intuitive digital payment experiences for users across India.”
“We are going beyond a traditional UPI payments app. RediffPay is designed to make saving and accessing credit as seamless as making a payment. Financial wellness is as important as health wellness, and we aim to reshape how people perceive UPI—moving from spending alone to saving, investing and inclusive growth,” he adds.
Rediff.com India is a subsidiary of Infibeam Avenues (proposed to be renamed as AvenuesAI), which acquired a controlling stake in Rediff in 2024 and has since increased its holding to 82%. The company aims to serve first its existing base of 60 million unique Rediff visitors and email users. It will offer localized email services compliant with the DPDP Act and provide multilingual UPI to reach the next 250 million users in India’s hinterland, along with a PPI wallet to address unmet needs in the evolving digital payments landscape. This marks a significant step toward digital financial inclusion for millions of rural and urban users.
RediffPay will leverage Rediff’s substantial web traffic and Infibeam’s fintech expertise to create a user-friendly platform for efficient and secure digital transactions. The company plans to introduce a range of financial services, including credit and wealth management products, to meet the diverse needs of its users.
