CRED unveils UPI-linked 'scan to pay' option on its app

The fintech unicorn will roll out its scan-to-pay option on the app for its users on October 1. The feature will be linked to users' bank accounts via their CRED UPI ID.

CRED unveils UPI-linked 'scan to pay' option on its app

Saturday October 01, 2022,

2 min Read

CRED has launched a UPI-based scan-to-pay option on its platform for its users, which will be linked to their bank accounts and enable debit transactions via QR code scanning.

Users will be able to access the option from within the app, which means only nine million CRED members will see the scan-to-pay button.

To incentivise people to use the feature, CRED says it will offer rewards in the form of cashback, discounts at merchant outlets, and CRED coins.

"Our intention with the app is to keep making transactions rewarding and exciting," said CRED founder, Kunal Shah, adding rewarding good financial behaviour has been the startup's focus since day one.

While setting up their UPI handle, users will be able to choose their own, unique aliases, which CRED says is an important part of helping protect their identity. For example, instead of Name@icici, one can now set RandomPerson@icici as their handle so that the merchant or the payment recipient will not be able to see their name or phone numbers.

It's noteworthy, however, that Google Pay and Paytm also let users pick their unique UPI handles, but CRED says it actively prompts its users to set up an alias.


Image source: CRED

Another interesting feature of CRED Scan-and-pay is the design customisation, where users can customise their scanner screen using different "flairs" (digital artwork), background animations, and profile avatars. While some backgrounds and digital artworks will be given free of cost, users can continue collecting and buying new app-based digital pieces using CRED coins.

"CRED's focus has always been trust and privacy, delighting users via design, and rewarding good financial behaviour. CRED Scan and Pay captures all of those and makes something as mundane and boring as payments, more fun," a CRED spokesperson said.