These days, numerous mobile applications, like PhonePay, Paytm, and so many more, provide rewards to users for utilizing them. The CRED App is one of the newest applications to hit the market for digital payments. Numerous consumers are looking for additional information about the CRED App on Google since it has become extremely popular. Please continue reading to learn more about the CRED program and its roles.

What is Cred App?

CRED would be a private club for users only that compensates people for paying their credit card bills on time by giving them access to special deals and premium services. Owners of credit cards may manage several cards on this portal, which also provides a credit score assessment. In addition, when paying their credit card debts using the app, members with good Experian or CRIF scores are eligible for special prizes.

The CRED app records every little detail of a card payment process, including spending trends, due date notifications, and other card use data. In addition, users of CRED are entitled to a wide range of benefits, including discounts on products from companies including Diesel and Cure. Fit, Myntra, Olive Bar & Kitchen, and many others, as well as exposure to activities, events, gift vouchers, and improvements.

Benefits of Using the Cred App

 1. Rewards


Cred is a members-only service as of this writing. You receive Cred coins as payment for paying credit card payments through Cred. In addition, users may use these coins to make discounted purchases of goods through the app.

2. Cashback


You are rewarded with cash back if you use the cred app to make a payment on your credit card. You can immediately utilize this cashback when it is added to your account.

3. Analysis of Payment

Analysis of Payment

When using a credit card, we frequently overspend mindlessly. Cred organizes your spending by making it simple for you to decide where to spend less. All this makes it simpler to comprehend your credit card statements.

4. Simplifies Statement

Simplifies Statement

Cred has a function called CRED protection. A copy of your financial report is provided by Cred Protection, and it emails it to you. These sentences are all password-protected.

 5. Automatic Payment

Automatic Payment

It might be a nuisance to pay the bills on many credit cards. So you may use Cred’s auto repayment option to pay your debts. This process makes use of a form of payment that has been connected.

6. Credit Rating

Credit Rating

You often need to utilize another app to figure out your credit score. For example, credit score reports may be obtained using Cred coins. Additionally, Cred provides advice on how to raise your credit score.

7. Offers


Most of the time, we are unaware of the promotions on our payment gateway. Cred will display all available discounts to help you save the most money.

Cred Offers Six products

CRED provides its members with six different goods. The services consist of:

1. CRED RentPay

CRED RentPay

A function enables renters to pay their rent on time each month by credit card straight to their landlord’s current account.

2. CRED Cash


 A quick, digitalized method that extends credit for tax would be one-third of the debt.

3. CRED Pay


Offers discounts on companies like Bombay Grooming Co., Dining out, etc., and is a secure payment solution that often includes a single-click substitute in some merchant systems.

4. CRED Store


The CRED app features more than 1500 brands in its in-app ecommerce and vacation locations, which users may acquire for member-only pricing.

 5. CRED Travel Store

CRED Travel Store

Through such an app, CRED’s customers may reserve rooms, book flights, and keep track of their dining bills. In exchange, they are compensated with CRED coins, which can be exchanged for various items in the CRED shop.

6. CRED Mint


Beginning on August 20, 2021, Cred also debuted Cred Mint, a peer-to-peer (P2P) lending tool designed to generate income from its 7.5 million customers.

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CRED Business Model

Cred business model

CRED offers benefits to customers who use the app to pay their bills. The offerings are provided by CRED in collaboration with companies. Consequently, the companies acquire visibility and popularity on a forum where customers are already making purchases. Customers are paying credit card debts, and the CRED program and the companies that provide deals on the app are the three pillars of the company’s business plan.

1. CRED’s Customers 

Several consumers use payment applications or their certificates of deposits directly to cover their credit cards. As a result, they may more profitably carry out the task of paying their credit card debts using the CRED app.

2. CRED App

cred app

It lets users register and view discounts available to cover their credit card debts. As you keep paying your bills, you accrue CRED coins that you may exchange for prizes.

3. Companies that Provide Deals Through the App

cred app deals

CRED must partner with enterprises and get them online. As customers of all stripes can use the CRED app, it offers exposure to small and large firms.

CRED Revenue Model

Cred revenue model

Businesses must pay CRED listing fees to have their goods and offers visible on their app. Additionally, financial companies can access commercial data amassed from customers to customize their offerings. You may get goods and deals from registered companies using Explore through CRED.

The deals include ones from Amazon gift cards, spa treatments, and clothing stores. Users may choose from a range of incentives with these offerings, which draws consumers’ interest. Every time a customer revives CRED tokens from the program to choose a deal, CRED is paid by the company.

To provide you with good deals in the future, CRED gathers your financial information so you can use the program and keep paying your bills. Their secondary source of income is this one. To utilize credit cards, mortgages, and other items, establishments are constantly looking for the most trustworthy consumers.

There is no one optimum revenue generator for CRED. Reply, CRED Stash, Store, Credit Card Transactions, and CRED Pay are just a few of CRED’s many products and services.

Alternatives of CRED

As of yet, there are no exact replacements for Cred. However, the following are some of the closest substitutes:

1. Snappy 


Android: For Android users, Snappy offers limitless utility bill payments, including rent, school fees, company bills, vendor rewards, and more.

IOS: SnaPay is a popular credit/debit card money transfer mobile app that lets users send immediate digital payments from their wallets to bank accounts using their electronic payments, UPI, Net Banking, or other methods. Employing PCI-DSS and SSL security, it provides a secure method for handling financial transactions.

2. PhonePe


Android: Using BHIM UPI, one’s credit card, debit card, or wallet, PhonePe is a payment program that enables you to top up your phone, pay all your utility bills, and send rapid payments. On PhonePe, you can also purchase insurance policies and make mutual fund schemes.

IOS: Users may easily make payments in India using PhonePe, a popular online payment app, and UPI-enabled initiative. Additionally, you may purchase insurance (auto, health, bicycle, travel, health, accident), pay your internet bill, contribute to mutual funds that lower your tax bill or buy gold.

3. Paytm


Android: Over 30 million Indians trust Paytm, the top payment app in the country. Install the Paytm app to send money from one bank to another using BHIM UPI and pay instantaneously in stores and on websites and applications, including IRCTC, Flipkart, Uber, Zomato, and Swiggy. Buy now and make payments with Paytm postpaid, participate in mutual fund schemes, digital gold, and NPS, take advantage of insurance, and check your free CIBIL credit history.

IOS: The Paytm app uses BHIM UPI for a financial institution to bank funds transfers. Use Paytm to reload your phone, Fastag, DTH, and movie tickets. You can also use it to pay your postpaid bills, utilities like water, fuel, and electricity, as well as your landline, internet service, and insurance.

4. Amazon


Android: The Amazon application makes it simple to browse and pay for items from various disciplines and vendors at competitive pricing. The internet shopping app shops for smartphones, gadgets, clothing, home goods, and more. With Amazon Pay, you can easily pay for airfare, bills, and other transactions. In addition, Amazon Fresh and Pantry makes it straightforward to get food for delivery services.

IOS: The Amazon India Buy and Pay Application offer you a huge variety of items from a wide range of aspects at fantastic pricing and exclusive discounts. Use Amazon Pay to pay instantly for your purchases, make hassle-free transactions, receive refunds more quickly, pay bills quickly, reload your DVR or mobile phone, book flights, and send money instantly from your savings account.

5. MobiKwik


Android: MobiKwik would be a payment app that handles all of your regular payment requirements, including credit up to 30,000 to Spend Now & Pay Later, bills, mobile top-up, payment method top-up, postpaid recharge, electricity charges payment services, fund transfers, BHIM UPI, DTH bill receipt, broadband payment, credit card transaction, and more.

IOS: MobiKwik would be a payment application that allows you to handle all your financial requirements in one location, including making a payment, acquiring credit up to $30,000, and using the Spend Now, Pay Later option. Your consumption determines the limit; the more you consume, the higher your credit restriction would be. 

6. Fyncr


With the help of Fyncr, you can manage all your credit card bills in one location and pay them back from any account to earn rewards from your chosen brands. We at Fyncr want to change the bill-paying process and make it rewarding so you can spend your time on the things you care about.

Android and Ios App Available After Online Registration
Android and Ios App Available After Online Registration

Cost Incurred

CRED reported operating expenses of Rs. 378.4 crore and an operating income of Rs. 52 lakh in FY20. The only saving grace was the financial gain of Rs 17.56 crore from various investments. As a result, the business founded by Kunal Shah could sign up 5.9 million credit card holders with very good credit. CRED, however, hasn’t been able to monetize its base of users despite obtaining this valuable client base. As a result, from Rs 60.87 crore it incurred in FY19, CRED’s yearly loss grew by 5.9X to Rs 360.3 crore.

During FY20, the firm spent Rs 25.8 crore on expenses incurred, 469% higher than the Rs 5.5 crore it invested on the same thing the previous year. Dreamplug Advisory Services and Dreamplug AA Tech Solutions are two other companies that CRED has established.

cred report 1
cred report 2

Cred Market Valuation and Funding 

CRED is valued at $2.2 billion on the market and has secured capital totaling about $551.4 million. Therefore, its expansion and increase in Google Trends are highly detrimental.

Cred Market Valuation and Funding 

Cred’s Marketing Strategy

The marketing strategy for CRED has been built on the need to scale up through growing its client base. To draw attention to the platform and its advantages, CRED has concentrated its business model largely on ATL (Above the Line) efforts, including TV ads and event sponsorships.

With their eccentricity and an outstanding cast of A-list celebrities from various industries, the commercials have attracted viewers’ attention. CRED is quite knowledgeable in topical marketing tactics. Creating marketing around a recent event or story involves marketing. The goal is to capitalize on a topic that has garnered popularity in the media.

Cred Struck a Three-Year Deal with Ipl

CRED also agreed to become the official partner of the wildly successful Indian Premier League from 2020 to 2022 to obtain a larger portion of consumers’ attention and credibility.

With more viewers than any other show or genre, along with the most reputable GEC (General Entertainment Category) category (TV serials and other recreation channels), the IPL season is comparable to a holiday season in India. However, as a consequence, CRED’s advertising costs went from INR 19 crores in FY 2019 to INR 180 crores in FY 2020, an increase of 850 percent.

Is Cred App Safe?

Cybersecurity ecommerce

Cred offers frequent credit card customers a wide range of options and services. You can be confident that it is secure with Cred. The app complies with DSS and meets all necessary security and safety standards. Cred employs 256-bit encryption and is NCPI-verified. Cred has teamed up with Axis Bank for all UPI payments made through the app. However, because there hasn’t been a significant security breach or complaint about Cred so far, don’t hold back. The web reviews indicate that the software is authentic.

Wrapping Up

When it comes to balancing your credit cards, Cred has become one of the cutting-edge apps. However, remember that revealing private information is never completely risk-free if it ends up in the wrong hands. You must understand and accept this possibility while using Cred. The site has already attracted about 7.5 million wealthy clients with a track history of satisfaction. In 2020, it was expected to generate INR 18 crores in revenue, a six-fold YoY increase.

If you find the idea and working of Cred app a success then you can build such an app too. We at Emizentech can help you create an app that makes your business ideas a reality. So, do get in touch when you need professional app development service.

Frequently Asked Questions About Cred Mobile App

Does the RBI approve the CRED app?

The CRED App follows the rules set out by the NPCI (National Payments Corporation of India). The Reserve Bank of India (RBI) has granted authorization to NPCI to operate payment systems.

Is the CRED app profitable?

CRED’s yearly losses increased by 45.1% to Rs 523.85 crore during FY21 from Rs 361.1 crore in FY20 as the cash burn continued to ramp up, and the great losses totaled Rs 946 crore by the end of March 2021.

Why is CRED so successful?

The success of this business is due to its emphasis on the customer experience. The business has created a smartphone application that allows customers to monitor their credit scores, make on-time bill payments, and submit loan applications.

How much is CRED worth?

Cred began looking for investors in October 2021, citing a valuation of $5.5 billion, up from the $2.2 billion stated in April 2021.

Does CRED sell data?

CRED will not sell user information to third parties, as stated in their privacy policy, but they may utilize it to improve and tailor the user experience. The privacy policy may also be readily changed to meet the product and market.


Cred has not made an application to join the NBFC. However, NCPI, a division of RBI, has authorized Cred.

Is CRED a payment aggregator?

As the firm has received the money in consecutive rounds, it has ambitions to become a payment and account aggregator. In October last year, it secured $251 million in a round co-led by Tiger Global and Falcon Edge, placing the business at approximately $4 billion.

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CTO at Emizentech and a member of the Forbes technology council, Amit Samsukha, is acknowledged by the Indian tech world as an innovator and community builder. He has a well-established vocation with 12+ years of progressive experience in the technology industry. He directs all product initiatives, worldwide sales and marketing, and business enablement. He has spearheaded the journey in the e-commerce landscape for various businesses in India and the U.S.