Bengaluru: Fintech platform CRED has received final authorisation from the Reserve Bank of India (RBI) to operate as a Payment Aggregator (PA), allowing the company to manage payment flows directly under the central bank’s supervision.
With this approval, CRED can onboard merchants, collect payments on their behalf across different instruments, and manage settlement and refunds within its ecosystem. The authorisation places the company among a group of regulated entities that can facilitate digital transactions while complying with strict regulatory standards set by the RBI.
The development adds to CRED’s growing regulatory portfolio. The company had earlier secured a Prepaid Payment Instrument (PPI) licence from the RBI. In addition, its group companies hold a corporate agency licence from the Insurance Regulatory and Development Authority of India and a registered investment advisor licence from the Securities and Exchange Board of India. It also operates with a Third-Party Application Provider (TPAP) licence from the National Payments Corporation of India.
The Payment Aggregator licence will allow CRED to directly manage core payment operations. According to the company, this could enable faster and more seamless transactions for users while improving reliability in payment processing.
Kunal Shah, founder of CRED, said the approval reflects the trust the company has built with regulators and stakeholders. “Stakeholder trust has been central to how we’ve built CRED from the beginning. We’ve maintained a high standard for performance, reliability, transparency and governance from day one,” he said.
Shah added that the authorisation will support the company’s next phase of growth as it aims to expand financial services for India’s most creditworthy consumers while maintaining strong governance and operational standards.
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