Rediff.com India has received final approval from the National Payments Corporation of India (NPCI) for a Third-Party Application Provider (TPAP) licence, marking its formal entry into India’s digital payments ecosystem.
The approval enables Rediff to begin testing and prepare for a nationwide rollout of its Unified Payments Interface (UPI) platform, RediffPay.
Following the regulatory clearance, Rediff has initiated Closed User Group (CUG) testing, a mandatory step before full-scale deployment within the UPI framework. The licence allows the company to offer interoperable UPI services and positions Rediff as a domestically owned player in the consumer-facing payments space.
Commenting on the development, Vishal Mehta, Chairman and Managing Director, Rediff.com India, said the approval represents a significant milestone for the company. He noted that RediffPay will focus on delivering secure and intuitive UPI services while supporting broader financial inclusion across the country.
RediffPay is being positioned as a financial wellness-oriented application that extends beyond routine payment services. In addition to UPI transfers, bill payments and mobile recharges, the platform plans to provide users access to savings and investment products, including equities, mutual funds, fixed deposits and recurring deposits, with the aim of encouraging disciplined financial habits.
A key feature of the platform will be Credit Line on UPI, allowing users to 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. This offering is expected to improve access to formal credit, particularly in Tier-2, Tier-3 and smaller towns, and bring new-to-credit users into the regulated financial system.
On the merchant side, RediffPay intends to onboard businesses across sectors through UPI QR-code-based payment acceptance solutions. The company also plans to integrate merchant credit demand into its ecosystem, combining payment acceptance with access to credit for businesses of varying sizes.
Axis Bank will serve as the payment system provider bank for RediffPay, supporting settlement and backend transaction processing.
With NPCI approval secured and testing underway, Rediff is positioning RediffPay as a differentiated, India-owned UPI platform with a focus on financial wellness, inclusion and credit access, as it prepares to enter the country’s rapidly expanding digital payments market.
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