Infibeams Rediff.com secures NPCI license to offer UPI services
Infibeam Avenues announced that its subsidiary, Rediff.com, 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 company, NPCI's official communication on Friday confirmed the approval, with Axis Bank serving as the Payment System Provider (PSP). 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. Entrackr had exclusively reported the development in September last year. In August 2024, Infibeam Avenues acquired a 54% stake in Rediff.com India to relaunch Rediff.com in its new avatar as a consumer-facing digital financial services aggregator. “We are thrilled that our subsidiary has received the TPAP license from NPCI, allowing us to extend UPI services through RediffPay.