Infibeam Avenues Subsidiary Rediff Receives Third-Party Application Provider License
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Infibeam Avenues Limited announced that its subsidiary, Rediff.com India Ltd., has received a Third-Party Application Provider (TPAP) license from the National Payments Corporation of India (NPCI) for its digital payment platform, RediffPay.
According to the official communication received by Rediff from the National Payments Corporation of India (NPCI) on Friday, it has been announced that the TPAP license has been approved and that Axis Bank will serve as a Payment System Provider (PSP) bank.
This license enables RediffPay to offer Unified Payments Interface (UPI) services to its users, marking Infibeam Avenues’ strategic 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.
Mr. Vishal Mehta, Chairman and Managing Director of Infibeam Avenues Ltd., stated, “RediffPay aims to leverage Rediff’s substantial web traffic and Infibeam’s fintech expertise to provide a user-friendly platform for secure and efficient digital transactions. 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”.
