CRED has received final authorization from the Reserve Bank of India to operate as a payment aggregator, marking a significant milestone for the fintech company as it expands its digital payments capabilities.

The approval will allow the company, founded by Kunal Shah, to onboard merchants onto its platform, process payments on their behalf, and manage settlements and refunds across multiple payment instruments.

Payment aggregators play a crucial role in India’s digital commerce ecosystem by enabling businesses to accept online payments through a unified infrastructure. With the RBI authorization in place, CRED will now be able to strengthen its merchant services and expand its payment processing offerings.

The development comes as fintech platforms continue to broaden their services beyond consumer credit and rewards ecosystems, integrating payments, commerce, and financial services into unified digital platforms to support the country’s rapidly evolving digital economy.