CRED launched ‘Scan & Pay’ - a UPI payment experience for members on the app. Now, members can make UPI payments from their bank accounts linked to the CRED app, by scanning any QR code.
The Scan & Pay feature extends the CRED experience - frictionless, trusted and designed for delight - for payments everywhere our members go. It enhances the utility of the CRED platform, drives value for members in addition to credit cards by adding a trust layer to UPI, and creates new opportunities for merchant partners. For CRED members the UPI payment experience has been made bespoke and personal with flairs and skins and 2X rewards on partner merchants. It also makes payment experience safer and trusted with inbuilt features offering more privacy, payment protection and transparency with dynamic messaging.
Highlights of Scan and Pay feature:
Kunal Shah, Founder, CRED said, “CRED was built with the creditworthy in mind. The country’s top 1% have set the stage for how India consumes and we believe they deserve an experience that celebrates their contribution. India has been leading digital payments adoption with revolutionary made-in-India products and UPI is delta-4 enabling infrastructure for innovation at scale. The all-new CRED pay experience builds on top of this with privacy-first features, personalisation and other member exclusives.
With Scan & Pay enabled on CRED pay, retail merchants can offer an instant payment experience, create unique constructs and build enduring relationships with CRED member-customers, the most creditworthy in India with a high propensity for spending. Partner brands offering curated rewards to CRED members using Scan & Pay range from Starbuck, Shoppers Stop, Puma, and Chaayos among others.
How to access the ‘Scan & Pay’ feature on CRED pay:
Unified Payments Interface, piloted in April 2016, is a system that powers multiple bank accounts into a single mobile application merging several banking features, seamless fund routing and merchant payments into one hood. It also caters to the “Peer to Peer” collect request which can be scheduled and paid as per requirement and convenience.