RediffPay – Transforming Digital Payments in India

RediffPay, under Rediff.com India, has received final approval from the National Payments Corporation of India (NPCI) for its Third-Party Application Provider (TPAP) licence. This approval sets the stage for the launch of the digital payments platform, RediffPay. The company has initiated Closed User Group (CUG) testing, an important phase before joining the Unified Payments Interface (UPI) ecosystem.

RediffPay’s Unique Features

With this new platform, RediffPay is preparing to introduce what it describes as India’s first UPI application centred around financial wellness and customer needs. The aim is to promote saving, investing, and responsible credit access. As stated in the company’s press release, the commencement of CUG testing marks their first step into the UPI space. It has been highlighted that this move allows for secure and interoperable UPI services through RediffPay, enhancing their mission to foster financial inclusion and deliver user-friendly digital payment experiences throughout India.

Enhanced Financial Habits through RediffPay

RediffPay plans to merge traditional UPI functionalities with an enhanced, customer-focused financial wellness offering. Beyond basic services such as bill payments and mobile recharges, the application seeks to instill better financial practices through specially selected savings and investment products. These include equities, mutual funds (MFs), fixed deposits (FDs), recurring deposits (RDs), and more, along with options for quick credit access.

Supporting Credit Access in Tier-2 and Tier-3 Cities

The RediffPay platform will also integrate Credit Line through UPI, thereby broadening access to formal credit, especially in smaller towns and cities. The company intends to onboard a diverse range of merchants, from small and micro businesses to mid-sized and larger firms, by offering RediffPay UPI QR-code-enabled point-of-sale (POS) solutions. This integration aims to cater to merchants’ credit needs as part of its UPI ecosystem.

Rediff.com India and Its Vision

Rediff.com India functions as a subsidiary of Infibeam Avenues, which secured a controlling interest in Rediff in 2024 and has since increased its shareholding to 82%. The company’s mission is to cater to its existing user base of 60 million unique Rediff visitors and email users. It is also focused on delivering localised email services compliant with the DPDP Act while providing multilingual UPI offerings to reach an additional 250 million users throughout India.