CRED Gets Final Nod To Operate As A Payment Aggregator

Cred Secures RBI Approval to Operate as Payment Aggregator

Indian fintech company Cred, backed by global investors Tiger Global and Peak XV, has received approval from the Reserve Bank of India (RBI) to operate as a payment aggregator, the company announced on Wednesday. The licence allows the platform to expand its role in India’s rapidly growing digital payments ecosystem by facilitating transactions between customers and merchants. With the new approval, Cred will be able to onboard merchants, collec…

Cred Gets RBI Nod To Operate As Payment Aggregator

Cred currently has a member base of over 1.5 crore.

CRED Gets Final Nod To Operate As A Payment Aggregator

Bengaluru-based fintech unicorn CRED has received the final payment aggregator (PA) licence from the Reserve Bank of India (RBI). The licence allows the fintech major to onboard merchants, collect payments on their behalf across instruments, and handle settlement and refunds. The startup said that the RBI’s authorisation allows CRED to operate a payment system directly under the regulator’s supervision. The PA licence allows the startup to manag…