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 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.
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.
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