Reserve Bank of India (RBI) Authorises CRED as Payment Aggregator

Key facts

• The Reserve Bank of India (RBI) has granted final authorisation to CRED (Dreamplug Paytech Solutions Private Limited) to operate as a payment aggregator.
• The license enables the Bengaluru-based fintech firm to onboard merchants, collect payments on their behalf across instruments, and handle settlements and refunds.
• CRED and its subsidiaries now hold two RBI authorisations, including the Prepaid Payment Instrument (PPI) license.
• The company reported a 16 per cent growth in consolidated operating revenue to ₹2,735 crore in the financial year 2024-25 (FY25).
• Operating losses for the firm reduced to ₹298 crore in FY25 from ₹609 crore in the previous financial year (FY24).
• The fintech platform, founded by Kunal Shah, currently maintains a member base of over 1.5 crore.