Indian Fintech Startup CRED Receives In-Principle Approval for Payment Aggregator License
Meta Description: CRED, the Indian fintech startup valued at .4 billion, has received in-principle approval for a payment aggregator license from the Reserve Bank of India. This approval allows CRED to process payments directly, reduce costs, and onboard merchants, enhancing its services and customer experience. Learn more about how this license strengthens CRED's position in the market and promotes healthy competition in the fintech industry.
Addressing Market Dominance: NPCI Engages with Fintech Startups to Boost UPI Transactions
Looking to address the dominance of PhonePe and Google Pay in India's Unified Payments Interface (UPI) ecosystem, the NPCI is meeting with fintech startups to discuss strategies for increasing UPI transactions. With concerns raised about market share concentration, the RBI and parliamentary panel are advocating for alternatives and a more level playing field. By promoting competition, offering incentives, and engaging with emerging players, the NPCI aims to foster innovation and benefit Indian consumers. Read more to learn about the efforts to create a more diverse and competitive payments landscape in India.