CRED gets RBI nod for payment aggregation
CRED, the Bengaluru-based fintech, just got the green light from the Reserve Bank of India to officially operate as a payment aggregator through its arm Dreamplug Paytech Solutions.
This means CRED can now directly onboard merchants, handle payments, settle transactions, and issue refunds, all under RBI's watch.
Why this license matters
This license is a big deal because it lets CRED process payments without middlemen, making things smoother and cheaper for businesses.
It also means CRED met RBI's regulatory requirements.
CRED's impressive growth and market share
CRED already plays a huge role in India's credit card scene. In FY2024-25, it processed over ₹8.5 trillion for 15 million users and claims to handle more than one-third of all credit card bill payments in the country.
The new license allows CRED to onboard merchants, collect payments, and manage settlements and refunds directly.
CRED's commitment to compliance and security
Founded by Kunal Shah and valued at $6.4 billion, CRED focuses on credit card payments and takes compliance seriously.
Their group companies are licensed by IRDAI, SEBI, and NPCI.
They also keep user data secure with top-notch ISO certifications and regular audits.