Infibeam Avenues Limited on Monday said its subsidiary Rediff.com India Ltd has commenced Closed User Group (CUG) testing for its upcoming UPI-based digital payments platform, RediffPay, after securing final approval from the National Payments Corporation of India for a Third-Party Application Provider licence .
According to the company’s disclosure, the TPAP licence clears the way for RediffPay to enter India’s Unified Payments Interface ecosystem. The platform is positioned as a financial-wellness-focused UPI application, integrating payments with savings, investment and credit-access features .
RediffPay will offer standard UPI services such as bill payments, mobile recharges and merchant payments, while also enabling access to curated financial products including equities, mutual funds, fixed deposits and recurring deposits. The app will additionally support Credit Line on UPI, allowing eligible users to make merchant payments of up to Rs 1 lakh per day and cash withdrawals of up to Rs 10,000 through pre-approved credit lines .
The company said Axis Bank will act as the Payment System Provider bank for RediffPay. Following the completion of CUG testing and contractual formalities, the company plans to announce the effective launch date of the app.
Rediff.com India Ltd is a subsidiary of Infibeam Avenues Limited, which acquired a controlling stake in Rediff in 2024 and currently holds an 82% stake. Infibeam Avenues processed transactions worth Rs 8.67 trillion in FY25 across its payments and platform businesses, the filing added .
