cred - NewNerve

Cred, a relatively new player in the Indian fintech scene, has quickly gained traction by targeting a specific niche: credit card users. This platform, known for its unique rewards system and exclusive experiences, is disrupting the way Indians manage their credit card spending and rewards. Company Overview: Founded: 2018 Headquarters: Bangalore, India Valuation: $2.2 Billion (as of 2023) [Source: Economic Times, Livemint] Employees: 500+ [Source: Cred website] Main Products: Cred App: A mobile app that allows users to: Track their credit card spending and rewards Earn and redeem points for exclusive experiences and rewards Access curated content and lifestyle benefits Pay their credit card bills Cred Store: An online marketplace offering exclu...

In a decisive move to safeguard the financial ecosystem, the Reserve Bank of India (RBI) has introduced stringent regulations targeting peer-to-peer (P2P) credit card transactions1. This regulatory action is aimed at transactions that involve payments for rent and tuition fees through third-party applications, a practice that has recently proliferated among retail customers. India’s Clampdown on P2P Credit Card Transactions The Crux of the Matter The RBI’s scrutiny was prompted by the discovery that customers were using credit cards to make payments for rent and tuition fees via fintech platforms. These platforms facilitated payments to their merchant accounts, followed by an immediate transfer to the recipient’s bank account, such as a landlord, in exchange for a fee. ...

Tag: cred

Cred CaseStudy: A Deep Dive into its Business Model and Growth

India’s P2P Payment Overhaul: Things You Need to Know, 2024