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The decision is part of the US efforts for production of chips locally and reduced its dependence on chip manufacturers in Taiwan.
As part of this Rs 800 crore 'related-party transaction' deal, Infibeam is also increasing its stake in Rediff to 82.7%.
Once approved, India Fintech Foundation (IFF) will be the second Fintech-SRO after Fintech Association of Consumer Empowerment (FACE).
Chapman co-founded Swiffy Labs in August 2023 after stepping down from her previous venture ZestMoney.
This license from NPCI enables RediffPay to offer Unified Payments Interface (UPI) services to its users.
