Fintech startup Cred receives in-principle approval from RBI for payment aggregation, joining Razorpay and Cashfree.

Fintech startup Cred receives in-principle approval from RBI for payment aggregation (PA) business, joining Razorpay and Cashfree. This approval will allow Cred, known for its credit card bill payment platform, to expand its merchant payments business and process payments directly, reducing costs and increasing control over payment flow. Final approval from RBI typically takes six months after the in-principle nod.