India, March 15 -- Adding another feather to its hat, CRED has secured the RBI's approval to operate as a payments aggregator (PA). With this, the fintech startup will now be able to onboard merchants, process digital transactions, and settle payments across multiple payment instruments such as cards, UPI, and net banking.

CRED secured an in-principle approval for the PA licence in 2024. Such approvals typically come with a long list of compliance, operational, and technology requirements.

This also serves as a critical milestone for Tiger Global-backed CRED's steady push to penetrate deeper into the country's payments ecosystem. The approval gives the Bengaluru-based startup, which has been gradually expanding its fintech footprint, gr...