CRED Receives Authorisation as Payment Aggregator

CRED has achieved a significant milestone with the Reserve Bank of India granting it final authorisation to function as a Payment Aggregator (PA). This important approval equips the company to onboard merchants, facilitate payments on their behalf, and handle settlements and refunds across various payment instruments.

Operational Framework Under Regulatory Supervision

The authorisation has specifically been assigned to Dreamplug Paytech Solutions Private Limited, the entity responsible for managing CRED’s payment operations. With this endorsement, CRED will now run its payment system directly under the scrutiny of the regulator.

Timeline of Approval

This final authorisation has been awarded nearly two years following the initial in-principle endorsement provided by the RBI. As a result, CRED and its subsidiaries now possess multiple regulatory licences.

Regulatory Licences Held by CRED

These include a Prepaid Payment Instrument (PPI) licence from the RBI, a corporate agency licence from the Insurance Regulatory and Development Authority of India, a registered investment advisor licence from the Securities and Exchange Board of India, and a TPAP licence from the National Payments Corporation of India.

Performance Metrics for FY25

During the financial year 2025, CRED processed payments amounting to over Rs 8.5 lakh crore for more than 1.5 crore users. The company claims that over one-third of credit card bill payments in India are currently conducted through its platform.

About CRED

Founded by Kunal Shah, CRED enables its users to manage credit card payments, monitor credit scores, and track financial activities across their accounts via its platform.