National Payments Corporation of India (NPCI) grants TPAP licence to RediffPay for UPI launch.

Key facts

• Rediff.com India has received final approval from the National Payments Corporation of India (NPCI) for its Third-Party Application Provider (TPAP) license.
• RediffPay positions itself as India’s first UPI app focused on financial wellness.
• The app will 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.
• Axis Bank will serve as the Payment System Provider (PSP) bank for the platform.
• Infibeam Avenues reported processing transactions worth ₹8.67 lakh crore across payments and platform services in FY25.