Rediff gets NPCI approval for TPAP license, to launch RediffPay UPI app focused on financial wellness

Rediff.com India has received final approval from the National Payments Corporation of India (NPCI) for its Third-Party Application Provider (TPAP) license, zthe way for the rollout of its digital payments platform, RediffPay.

With this approval, the company has begun Closed User Group (CUG) testing, an essential step before entering the UPI ecosystem and is preparing to launch an UPI app built around financial-wellness-customer-centric UPI payment app designed to encourage saving, investing and access to credit.

“This approval is a significant milestone for Rediff,” said Vishal Mehta, Chairman and Managing Director, Rediff.com India Ltd.

“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.”

RediffPay aims to blend traditional UPI capabilities with a broader financial wellness and customer centric proposition. Beyond core payments, the company plans to offer curated financial products such as equities, mutual funds, fixed deposits, recurring deposits, and similar savings and investment options, as well as pathways to quick credit.

It will also support Credit Line on UPI, expanding access to formal credit. Under existing UPI credit guidelines, users can make merchant payments of up to Rs 1 lakh per day and withdraw up to Rs 10,000 in cash through pre-approved credit lines.

On the merchant side, the company plans to onboard small, micro, mid and large merchants across Indian geography by offering RediffPay UPI QR-code-enabled point-of-sale (POS) solutions, integrating merchant credit demand into its UPI ecosystem..

“We are going beyond a traditional UPI payments app,” Mehta said. “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.”

RediffPay will leverage Rediff’s existing digital footprint, including its base of around 60 million unique visitors and email users. The company plans to offer localised email services compliant with the Digital Personal Data Protection (DPDP) Act, along with multilingual UPI services aimed at reaching the next 250 million users across India. The platform will also include a prepaid payment instrument (PPI) wallet and additional financial services over time.

Axis Bank will act as the Payment System Provider (PSP) bank for RediffPay.

Founded in 1996, Rediff.com India is a subsidiary of Infibeam Avenues, which acquired a controlling stake in the company in 2024 and has since increased its holding to 82%.

Infibeam Avenues reported processing transactions worth Rs 8.67 lakh crore, or about $106 billion, in FY25 across its payments and platform services, and has proposed renaming the company to AvenuesAI.