Shares of Infibeam Avenues Ltd ended flat after touching a day’s high of Rs 23.68 on 7th February, following the company’s announcement of securing a TPAP license for its digital payment platform RediffPay.
Infibeam Avenues secured a TPAP license, enabling its digital payment platform, RediffPay, to operate as a payment aggregator and participate in UPI transactions.
The company applied for the license after acquiring a 54% stake in Rediff.com India in August 2024, marking its entry into digital financial services.
Vishal Mehta, CMD of Infibeam, stated that the license would help extend UPI services through RediffPay, with plans to introduce credit and wealth management products.
RediffPay aims to leverage Rediff’s web traffic and Infibeam’s fintech expertise to offer a seamless digital transaction platform.
Before this, Infibeam Avenues received RBI’s final authorisation to operate as a Payment Aggregator for its flagship payment gateway, CCAvenue.
At 3:30 PM, the shares of Infibeam Avenues closed 0.43% higher at Rs 23.25 on NSE.
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