Cred Becomes a BBPS operator, makes bill payments faster and easier

Cred, the credit card bill payment platform has announced new initiatives aimed at enhancing financial progress for its members. The platform has become a certified Customer Operating Unit (COU) on the Bharat Bill Payment System (BBPS), the infrastructure that routes bill payments in India.

Previously, CRED was the largest Agent Institution on BBPS as of July, processing over ₹15,000 crore in bill payments across various banks. The platform accounted for approximately 40% of the growth in the value of payments processed on BBPS from June to July. With the COU certification, CRED is positioned to form more partnerships with large billers and banks, further expanding its service offerings.

Kunal Shah, founder of CRED, highlighted the significance of the COU certification in ensuring timely payment settlements and emphasised the role of Digital Public Infrastructure in driving fintech innovation.

The platform’s CRED Guarantee ensures that bills are settled on time, with CRED committing to cover late fees in the rare event of delayed settlements, provided members pay their bills in full before the due date.

Noopur Chaturvedi, CEO of NPCI Bharat BillPay, welcomed CRED to the BBPS, noting that the partnership will enhance convenience for consumers and contribute to the efficiency of India’s digital financial ecosystem.