India, March 12 -- Fintech platform CRED on Wednesday said it has received the final authorisation from the Reserve Bank of India to operate as a payment aggregator. With this, CRED and its subsidiaries now hold two Reserve Bank of India (RBI) authorisations, including the Prepaid Payment Instrument (PPI) license.

"The RBI has formally authorised CRED (Dreamplug Paytech Solutions Private Limited) to operate a payment system directly under the regulator's supervision. The license enables CRED to onboard merchants, collect payments on their behalf across instruments, and handle settlement and refunds," the company said in a statement.

The Bengaluru-based firm reported a reduction in operating losses to INR 298 crore in FY25, from INR 609 ...