Launch · Financial Services
Rediff.com receives NPCI approval to launch RediffPay
By Startup Enthusiast ·
- Date
- Company
- Rediff.com
- What it does
- Digital news and media portal
- Kind
- Launch
- Stage
- growth
- Based in
- Mumbai
- Founded
- 1996
- Sector
- Financial Services
What they do
Rediff.com is an established Indian digital media platform providing news, email services, and financial information to millions of users
What happened
The company received final approval from the NPCI to operate as a Third-Party Application Provider for UPI payments
Why it matters
RediffPay will focus on financial wellness by integrating investment products, credit lines, and savings tools into the UPI ecosystem
The details
- Rediff.com has received final approval from the NPCI (National Payments Corporation of India) to operate as a TPAP (Third-Party Application Provider).
- This license allows the company to launch its digital payments platform, RediffPay, within the UPI (Unified Payments Interface) ecosystem.
- The company has initiated CUG (Closed User Group) testing as the final phase before a public rollout.
- RediffPay aims to differentiate itself by focusing on financial wellness rather than just transaction volume.
- The platform will integrate investment products, responsible credit lines, and savings-focused features for its users.
- RediffPay will also offer QR-code-enabled POS (Point-of-Sale) solutions to onboard merchants in Tier-2 and Tier-3 cities.
The bigger picture
- Rediff.com is a subsidiary of Infibeam Avenues, which currently holds an 82% stake in the company.
- The launch leverages Rediff's existing user base of 60 million unique visitors and email users.
- The platform is designed to be fully compliant with India's DPDP (Digital Personal Data Protection) Act.
About the business
- Rediff.com operates a long-standing web portal offering news, sports, and entertainment content.
- The site provides free email services under the Rediffmail brand with 15 GB of storage.
- It features sections for stock quotes, business news, and personal finance advice.
- The platform hosts a 'Gurus' section for expert advice and various multimedia content including podcasts and videos.
- It serves a broad audience with localized content and multilingual support.
What happens next
- The company plans to expand formal credit access to underserved users through its credit line on UPI.
- RediffPay intends to target small business owners in smaller towns to increase digital credit penetration.
The deal
- Type
- launch
Investors
- Infibeam Avenues (existing) — A fintech giant that acquired a controlling stake in Rediff.com in 2024.