CRED Gets RBI Nod as Payment Aggregator

New Delhi, Mar 11 (PTI) Fintech platform CRED on Wednesday said it has received the final authorisation from the Reserve Bank of India to operate as a payment aggregator.

With this, CRED and its subsidiaries now hold two Reserve Bank of India (RBI) authorisations, including the Prepaid Payment Instrument (PPI) license.

"The RBI has formally authorised CRED (Dreamplug Paytech Solutions Private Limited) to operate a payment system directly under the regulator's supervision. The license enables CRED to onboard merchants, collect payments on their behalf across instruments, and handle settlement and refunds," the company said in a statement.

The Bengaluru-based firm reported a reduction in operating losses to Rs 298 crore in FY25, from Rs 609 crore in FY24, on the back of product portfolio expansion.


It saw its consolidated operating revenue grow by 16 per cent to Rs 2,735 crore in FY25.

"Stakeholder trust has been central to how we've built CRED from the get-go; we've operated with a high bar for performance, reliability, transparency, and governance from day zero.

"The authorisation to operate as a payment aggregator reflects the trust we've consistently built across the ecosystem and sets the foundation for the next chapter of enabling financial progress for India's most creditworthy," CRED Founder Kunal Shah said.

CRED currently has a member base of over 1.5 crore.