Infibeam Avenues’ RediffPay Begins CUG Testing for UPI Launch

Infibeam Avenues Ltd’s subsidiary, Rediff.com India Ltd, has commenced Closed User Group (CUG) testing for its digital payments platform, RediffPay. This follows the acquisition of a Third-Party Application Provider (TPAP) license from the National Payments Corporation of India (NPCI). The testing is a preparatory step for entering the Unified Payments Interface (UPI) ecosystem. RediffPay is designed to be India’s first UPI app focused on financial wellness, encouraging saving, investing, and responsible credit access.

The financial terms of the initiative include the integration of traditional UPI capabilities with additional features aimed at promoting financial wellness. RediffPay will offer services beyond standard bill payments and mobile recharges, incorporating curated savings and investment products such as equities, mutual funds, fixed deposits, and recurring deposits. The platform will also provide a pathway to quick credit for individuals and merchants, enhancing convenience in UPI payments, credit access, and savings.

Operationally, RediffPay will support Credit Line on UPI, expanding access to formal credit, particularly in Tier-2, Tier-3, and smaller towns and cities. Under NPCI’s framework, users can make merchant payments of up to INR 1,00,000 per day and withdraw up to INR 10,000 in cash via pre-approved credit lines. This feature aims to bring new-to-credit consumers into the formal economy through micro-credit for everyday purchases.

The timeline for the launch involves the current phase of CUG testing, which is essential before full-scale deployment in the UPI ecosystem. The platform’s launch will focus on financial inclusion and digital transformation in India, leveraging Rediff’s existing user base and Infibeam’s fintech expertise.

Entities involved in this initiative include Rediff.com India Ltd, which is responsible for the development and deployment of RediffPay, and Axis Bank, which will act as the Payment System Provider (PSP) bank for the platform. The collaboration aims to deliver secure and interoperable UPI services across India.

In the context of market relevance, RediffPay’s launch is positioned as a strategic move to enhance digital financial inclusion in India. The platform will onboard small, micro, mid, and large merchants across the country, offering UPI QR-code-enabled point-of-sale (POS) solutions. This integration aims to meet the evolving needs of India’s digital payments landscape, supporting the nation’s broader digital transformation and financial inclusion agenda.

Infibeam Avenues Ltd, proposed to be renamed AvenuesAI Ltd, is a leading global fintech company offering comprehensive digital payment and AI solutions. Its flagship brand, CCAvenue, powers one of India’s largest Payment Gateway platforms. The company’s acquisition of Rediff.com strengthens its position in the AI-driven commerce and content platform space, enabling a unified ecosystem of payments, platforms, and digital services.