How Cred is Changing the Credit Card Payment Landscape in India

CRED is revolutionizing the way we pay our credit card bills. It has emerged as a game-changer in the Fintech industry by offering a unique platform that allows creditworthy individuals to make credit card payments effortlessly while earning exclusive rewards. Founded by Kunal Shah in April 2018, CRED has achieved remarkable growth in just a few years. In April 2021, it entered the Unicorn Club with a valuation of $2.2 billion.

CRED's business model revolves around three pillars: Customers who pay credit card bills, the CRED app, and businesses that provide offers on the app. The app enables users to sign up and see all the available offers on paying their credit card bills. As they continue to pay bills, they accumulate CRED coins, which they can redeem for rewards. CRED partners with various businesses to offer its users exclusive discounts and deals, which makes the app more attractive to users.

One of the unique features of CRED is that it requires a credit score of over 750 to access its services. By doing so, it ensures that only creditworthy individuals can use its platform. CRED also allows users to share certain data, such as credit card numbers and access to emails, to track users' expenses and due amounts. This helps users manage their finances more efficiently.

CRED's success can be attributed to its ability to simplify the credit card payment process while providing exclusive rewards to its users. By bringing businesses on board and forming tie-ups with them, CRED has become a one-stop-shop for all credit card-related needs. The app provides small and large businesses alike with visibility as buyers of all types use it.

In conclusion, CRED has emerged as a game-changer in the Fintech industry by simplifying the credit card payment process and offering exclusive rewards to creditworthy individuals. Its unique business model has helped it achieve remarkable growth in just a few years. With the increasing popularity of CRED, it is safe to say that it is set to change the way we pay our credit card bills forever.

Related Searches:

• What is Cred app and how does it work?

• How does Cred make money?