Rediff.com India has secured final authorisation from the National Payments Corporation of India (NPCI) for a Third-Party Application Provider (TPAP) licence, clearing the way for the launch of its digital payments service, RediffPay.
With this clearance, the company has begun Closed User Group (CUG) testing, a mandatory step prior to onboarding the unified payments interface (UPI) network.
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The company is set to roll out what it calls India’s first UPI app centred on financial wellness, a customer-focused UPI payments platform aimed at promoting saving, investing, and responsible credit usage.
Rediff.com India chairman and managing director Vishal Mehta 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.”
The company said RediffPay will combine core UPI functions with a wider focus on financial wellbeing.
In addition to payments such as bills, mobile recharges and interoperable UPI transactions across apps, RediffPay will include access to products including equities, mutual funds (MFs), fixed deposits (FDs) and recurring deposits (RDs), alongside a route to credit for consumers and merchants.
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By GlobalDataRediffPay is also expected to enable credit line on UPI, broadening access to formal credit, especially across Tier-2, Tier-3, and smaller towns and cities.
Under NPCI’s framework, users can make merchant payments of up to Rs1,00,000 ($1,113.34) per day and withdraw up to Rs10,000 in cash using pre-approved credit lines.
Mehta added: “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.”
Rediff.com India said it plans to add merchants of different sizes across the country using RediffPay UPI QR-code-enabled point-of-sale (POS) options, linking merchant credit needs into its UPI offering.
Axis Bank will be the payment system provider (PSP) bank for RediffPay.
Infibeam Avenues (which plans to rebrand as AvenuesAI) owns Rediff.com India, having taken control in 2024 and subsequently increased its ownership to 82%.
RediffPay looks to tap into Rediff’s online audience and Infibeam’s fintech know‑how to build an easy-to-use platform for secure digital payments.
