Infibeam's RediffPay Secures NPCI License, Set to Revolutionize UPI Payments

Infibeam Avenues' subsidiary, Rediff.com, has successfully obtained a Third-Party Application Provider (TPAP) license from the National Payments Corporation of India (NPCI) for its digital payment platform, RediffPay. This license, granted on February 7, 2025, allows RediffPay to offer Unified Payments Interface (UPI) services to its users, marking Infibeam's strategic entry into the consumer-facing digital payments sector.
The approval comes with Axis Bank serving as the Payment System Provider (PSP). This development follows Infibeam's acquisition of a 54% stake in Rediff.com India in August 2024, which was part of their strategy to relaunch Rediff.com as a consumer-facing digital financial services aggregator.
Vishal Mehta, Chairman and MD of Infibeam Avenues, expressed enthusiasm about the license, stating that it aligns with their vision to enhance financial inclusivity and offer seamless digital payment solutions across India.
The company's shares responded positively to this news, with Infibeam's stock trading up over 1% following the announcement.
Source: Entrackr, Money Control, Business Upturn