Rediff.com India set to launch India's first purely Indian-owned UPI payment app

Rediff.com India announced that it has received final approval from the National Payments Corporation of India (NPCI) for its Third-Party Application Provider (TPAP) license, paving the way for the rollout of its digital payments platform, RediffPay. With this approval, the company has commenced Closed User Group (CUG) testingan essential step before entering the Unified Payments Interface (UPI) ecosystemand is preparing to launch India's first UPI app built around financial-wellness-customer-centric UPI payment app designed to encourage saving, investing and responsible access to credit.

On Monday, the company commenced Closed User Group (CUG) testing as it prepares to enter the Unified Payments Interface (UPI) ecosystem. This approval is a significant milestone for Rediff, said Vishal Mehta, Chairman and Managing Director, Rediff.com India. 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 standard bill payments, mobile recharges, and cross-app UPI interoperability payments, the app will encourage better financial habits through curated savings and investment productssuch as equities, mutual funds (MFs), fixed deposits (FDs), recurring deposits (RDs) and similar other products alongside a pathway to quick credit, for individuals and merchants seeking convenience of UPI payments, credit access and savings at their fingertips.

The RediffPay platform will also support Credit Line on UPI, expanding access to formal credit particularly in Tier-2, Tier-3 and smaller towns and cities. Under NPCI's Credit Line on UPI framework, users can make merchant payments of up to INR 1,00,000 per day and withdraw up to INR 10,000 in cash via pre-approved credit lines, helping bring new-to-credit consumers into the formal economy through micro-credit for everyday purchases.

To further deepen inclusion, RediffPay 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.

RediffPay is positioned as a wealth-multiplier and a financial-wellness-customer-centric UPI payment app by encouraging saving and investment promoting messaging within the app. The TPAP license marks Rediff's strategic entry into the consumer-facing digital payments market. Following the TPAP approval, the company plans to launch India's first purely Indian-owned UPI payment app. Axis Bank will act as the Payment System Provider (PSP) bank for RediffPay.

Rediff.com India Ltd. is a subsidiary of Infibeam Avenues (proposed to be renamed-- AvenuesAI), which acquired a controlling stake in Rediff in 2024 and has since increased its holding to 82%.

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