Infibeam Avenues' RediffPay Gets TPAP License
Infibeam Avenues subsidiary Rediff.com India Ltd. secures a TPAP license from NPCI for its digital payment platform RediffPay, enabling UPI services and marking the company's entry into the consumer-facing digital payments sector.
Illustration: Dominic Xavier/Rediff.com
New Delhi, Feb 7 (PTI) Listed fintech company Infibeam Avenues on Friday said its subsidiary has been granted a Third-Party Application Provider (TPAP) license by the National Payments Corporation of India (NPCI) for its digital payment platform, RediffPay.
The license enables RediffPay to offer Unified Payments Interface (UPI) services to its users, marking Infibeam Avenues' entry into the consumer-facing digital payments sector.
The company had previously applied for the TPAP license following its acquisition of a controlling stake in Rediff in 2024.
Infibeam Avenues in a release said, "...subsidiary, Rediff.com India Ltd., has been granted a Third-Party Application Provider (TPAP) license by the National Payments Corporation of India (NPCI) for its digital payment platform, RediffPay".
A communication received by Rediff from NPCI informed about the approval of the TPAP license and also that Axis Bank will act as a Payment System Provider (PSP) bank.
RediffPay aims to leverage Rediff's web traffic and Infibeam's fintech expertise to provide a user-friendly platform for secure and efficient digital transactions, the release further said.
"The company plans to introduce a range of financial services, including credit and wealth management products, to cater to the diverse needs of its users," it added.
The license enables RediffPay to offer Unified Payments Interface (UPI) services to its users, marking Infibeam Avenues' entry into the consumer-facing digital payments sector.
The company had previously applied for the TPAP license following its acquisition of a controlling stake in Rediff in 2024.
Infibeam Avenues in a release said, "...subsidiary, Rediff.com India Ltd., has been granted a Third-Party Application Provider (TPAP) license by the National Payments Corporation of India (NPCI) for its digital payment platform, RediffPay".
A communication received by Rediff from NPCI informed about the approval of the TPAP license and also that Axis Bank will act as a Payment System Provider (PSP) bank.
RediffPay aims to leverage Rediff's web traffic and Infibeam's fintech expertise to provide a user-friendly platform for secure and efficient digital transactions, the release further said.
"The company plans to introduce a range of financial services, including credit and wealth management products, to cater to the diverse needs of its users," it added.
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