Shares of Infibeam Avenues Ltd ended flat after touching a day’s excessive of Rs 23.68 on seventh February, following the corporate’s announcement of securing a TPAP license for its digital cost platform RediffPay.
Infibeam Avenues secured a TPAP license, enabling its digital cost platform, RediffPay, to function as a cost aggregator and take part in UPI transactions.
The corporate utilized for the license after buying a 54% stake in Rediff.com India in August 2024, marking its entry into digital monetary providers.
Vishal Mehta, CMD of Infibeam, said that the license would assist prolong UPI providers via RediffPay, with plans to introduce credit score and wealth administration merchandise.
RediffPay goals to leverage Rediff’s net visitors and Infibeam’s fintech experience to supply a seamless digital transaction platform.
Earlier than this, Infibeam Avenues obtained RBI’s last authorisation to function as a Cost Aggregator for its flagship cost gateway, CCAvenue.
At 3:30 PM, the shares of Infibeam Avenues closed 0.43% larger at Rs 23.25 on NSE.
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