Infibeam Avenues Limited — Important, 07-02-2025: Updates

Infibeam Avenues Limited's subsidiary, Rediff.com India Ltd., has received a Third-Party Application Provider (TPAP) license from the National Payments Corporation of India (NPCI) for its digital payment platform, RediffPay. This approval allows RediffPay to offer Unified Payments Interface (UPI) services, marking Infibeam Avenues' entry into the consumer-focused digital payments sector. Axis Bank will serve as the Payment System Provider (PSP).

The TPAP license aligns with the company's strategy to enhance financial inclusivity and provide seamless digital payment solutions. RediffPay plans to utilize significant web traffic and fintech expertise to foster secure transactions and aims to introduce various financial services, including credit and wealth management products. This development complements Infibeam's recent achievements, such as obtaining final authorization as a Payment Aggregator for its payment gateway, CCAvenue. With this strategic move, RediffPay is well-positioned to be a key player in India's evolving digital payments landscape.