Latest News | Infibeam Avenues Arm Gets TPAP License for RediffPay
Get latest articles and stories on Latest News at LatestLY. Listed fintech company Infibeam Avenues on Friday said its subsidiary has been granted a Third-Party Application Provider (TPAP) license by the National Payments Corporation of India (NPCI) for its digital payment platform, RediffPay.
New Delhi, Feb 7 (PTI) Listed fintech company Infibeam Avenues on Friday said its subsidiary has been granted a Third-Party Application Provider (TPAP) license by the National Payments Corporation of India (NPCI) for its digital payment platform, RediffPay.
The license enables RediffPay to offer Unified Payments Interface (UPI) services to its users, marking Infibeam Avenues' 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.
Infibeam Avenues in a release said, "...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".
A communication received by Rediff from NPCI informed about the approval of the TPAP license and also that Axis Bank will act as a Payment System Provider (PSP) bank.
RediffPay aims to leverage Rediff's web traffic and Infibeam's fintech expertise to provide a user-friendly platform for secure and efficient digital transactions, the release further said.
"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," it added.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)