MUMBAI, March 11 (Reuters) - India's Cred, backed by Tiger Global and Peak XV, has received approval from the country's central bank to operate as a payment aggregator, the fintech firm said on Wednesday.
The licence would allow Cred to sign up merchants, collect payments on their behalf across payment instruments, and handle settlement and refunds.
The company managed payments worth 8.5 trillion rupees ($92.40 billion) for 15 million users in the fiscal year ended March 2025, the firm said.
(Reporting by Jaspreet Kalra; Editing by Janane Venkatraman)
