New Delhi, March 11 -- The Reserve Bank of India (RBI) gradually granted operational licences to platforms that meet compliance, security, and governance standards. The latest entrant to receive such approval is CRED, which has secured final authorisation from the central bank to operate as a payment aggregator (PA).

The approval allows Dreamplug Paytech Solutions Private Limited, the entity behind CRED, to run a regulated payment system under the RBI's supervision. The licence enables the company to onboard merchants, collect payments across multiple instruments, and manage settlement and refund processes directly.

For CRED, the move marks a structural shift from relying on partner infrastructure toward operating its own regulated paym...