India Tech 🇮🇳 AI NewsCRED has received final authorisation from RBI to operate as a payment aggregator, allowing the company to onboard merchants, process payments and manage settlements. In FY25, CRED processed payments worth over Rs 8.5 lakh crore on behalf of more than 1.5 crore users. https://economictimes.indiatimes.com/tech/technology/cred-receives-payment-aggregator-licence-from-rbi/articleshow/129456401.cms #India #Tech #Fintech #CRED
Cred receives payment aggregator licence from RBI
Fintech startup Cred has received RBI authorisation to operate as a payment aggregator, allowing it to onboard merchants, collect payments, and manage settlements and refunds. The company now holds two licences, that is, PPI and PA. In FY25, revenue rose 16% to Rs 2,735 crore, while losses fell.