News > Cred receives in-principle approval from the RBI for payment aggregation business

Cred receives in-principle approval from the RBI for payment aggregation business

Once it gets the final approval, which usually takes about six months, the Peak XV-backed Bengaluru-based startup, which primarily runs a credit card bill payment platform for creditworthy customers, can double down on the merchant payments business too, joining the ranks of Razorpay and Cashfree. CCAvenue, Innoviti Payments and MSwipe are also payment companies that recently received their final payment aggregation (PA) licence.