With this approval, the company has initiated Closed User Group (CUG) testing, an essential step before entering the Unified Payments Interface (UPI) ecosystem.
RediffPay aims to be India’s premier UPI app centered on financial wellness, designed to motivate users to save, invest, and access credit wisely. The platform will incorporate standard UPI functionalities such as bill payments, mobile recharges, and cross-app compatibility, along with specially curated savings and investment options, including equities, mutual funds, fixed deposits, and recurring deposits.
Additionally, the app will offer Credit Line on UPI, enabling users to make merchant payments up to ₹1 lakh per day and withdraw up to ₹10,000 in cash through pre-approved credit facilities. RediffPay intends to bring on board a range of merchants, from small to large, throughout India, utilizing QR-code-enabled point-of-sale solutions and incorporating merchant credit demand into its UPI framework.
“This approval marks a crucial milestone for Rediff,” remarked Vishal Mehta, Chairman and Managing Director of Rediff.com India. “It allows us to provide secure, interoperable UPI services, furthering our goal of enhancing financial inclusion while offering straightforward, user-friendly digital payment experiences.”
RediffPay will capitalize on Rediff’s online traffic and Infibeam Avenues’ fintech know-how to deliver multilingual UPI, a PPI wallet, and various financial services to engage users across both urban and rural sectors of India. Axis Bank will act as the Payment System Provider (PSP) bank for the platform.
Founded in 1996, Rediff.com is a subsidiary of Infibeam Avenues (soon to be renamed AvenuesAI), which increased its ownership in Rediff to 82% in 2024. Infibeam Avenues reported processing transactions totaling ₹8.67 lakh crore ($106 billion) in FY25 across its payments and platform services.
