CRED has received the final payment aggregator licence from the Reserve Bank of India (RBI), enabling the company to onboard merchants, process digital payments across multiple instruments, and manage settlements and refunds.
With this authorisation, the Bengaluru-based company can directly handle core payment flows through its platform. The firm already holds an online and physical payment aggregator licence along with approval for a prepaid payment instrument (PPI) from the banking regulator.
“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,” said Kunal Shah, founder, CRED.
The group also holds multiple regulatory approvals, including a corporate agency licence from the Insurance Regulatory and Development Authority of India (IRDAI), a registered investment advisory licence from the Securities and Exchange Board of India (SEBI), and a third-party application provider (TPAP) licence from the National Payments Corporation of India (NPCI).
According to the company, the authorisation will enable faster and more seamless payment experiences for users by allowing CRED to manage payments directly. In FY25, the platform claims to have processed payments worth more than Rs 8.5 trillion from over 15 million users.
Data from the RBI indicates that more than 50 companies are currently licensed as payment aggregators in India.
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