Reserve Bank of India has granted final authorisation to CRED to operate as a Payment Aggregator (PA). The approval allows the company to onboard merchants, process payments on their behalf and manage settlements and refunds across payment instruments.
The authorisation has been granted to Dreamplug Paytech Solutions Private Limited, the entity operating CRED’s payment business. With this approval, the company will operate the payment system directly under the regulator’s supervision.
The final authorisation comes nearly two years after the…
