New Launch7 Feb 2025, 08:11 pm
Infibeam Avenues' Subsidiary, Rediff, Receives TPAP License from NPCI for RediffPay
AI Summary
Infibeam Avenues Limited, a listed fintech company, has announced that its subsidiary, Rediff.com India Ltd., has been granted a Third-Party Application Provider (TPAP) license by the National Payments Corporation of India (NPCI) for its digital payment platform, RediffPay. 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 plans to introduce a range of financial services, including credit and wealth management products, to cater to the diverse needs of its users.
Key Highlights
- Infibeam Avenues' subsidiary, Rediff, receives TPAP license from NPCI for RediffPay
- RediffPay to offer UPI services, marking Infibeam Avenues' entry into consumer-facing digital payments
- RediffPay aims to leverage Rediff's traffic and Infibeam's fintech expertise for user-friendly digital transactions
- Company plans to introduce a range of financial services, including credit and wealth management products
- Infibeam Avenues recently received final authorization from RBI to operate as Payment Aggregator for CCAvenue