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Following the approval, the company has started Closed User Group (CUG) testing, a key step before entering the Unified Payments Interface (UPI) ecosystem.
RediffPay positions itself as India’s first UPI app focused on financial wellness, aiming to encourage users to save, invest, and access credit responsibly. The platform will combine standard UPI features such as bill payments, mobile recharges, and cross-app interoperability with curated savings and investment products, including equities, mutual funds, fixed deposits, and recurring deposits.
The app will also support Credit Line on UPI, allowing users to make merchant payments up to ₹1 lakh per day and withdraw up to ₹10,000 in cash via pre-approved credit lines. RediffPay plans to onboard small to large merchants across India with QR-code-enabled point-of-sale solutions and integrate merchant credit demand into its UPI ecosystem.
“This approval is a significant milestone for Rediff,” said Vishal Mehta, Chairman and Managing Director of Rediff.com India. “It enables us to extend secure, interoperable UPI services and advance our mission to broaden financial inclusion while delivering simple, intuitive digital payment experiences.”
RediffPay will leverage Rediff’s web traffic and Infibeam Avenues’ fintech expertise to offer multilingual UPI, a PPI wallet, and additional financial services to reach users across urban and rural India. Axis Bank will serve as the Payment System Provider (PSP) bank for the platform.
Rediff.com, founded in 1996, is a subsidiary of Infibeam Avenues (proposed to be renamed AvenuesAI), which increased its stake in Rediff to 82% in 2024. Infibeam Avenues reported processing transactions worth ₹8.67 lakh crore ($ 106 billion) in FY25 across payments and platform services.
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