CRED launches Scan & Pay feature for UPI payments

CRED launched ‘Scan & Pay’ – a UPI payment experience for members on the app. Now, members can make UPI payments from their bank accounts linked to the CRED app, by scanning any QR code. 

The Scan & Pay feature extends the CRED experience – frictionless, trusted and designed for delight – for payments everywhere our members go. It enhances the utility of the CRED platform, drives value for members in addition to credit cards by adding a trust layer to UPI, and creates new opportunities for merchant partners. For CRED members the UPI payment experience has been made bespoke and personal with flairs and skins and 2X rewards on partner merchants. It also makes payment experience safer and trusted with inbuilt features offering more privacy, payment protection and transparency with dynamic messaging.

Highlights of Scan and Pay feature:

• Trusted 
  • Payment Protection – your payments are CRED protected. Every Scan & Pay payment is protected on CRED.  If the payment is stuck and awaiting confirmation from the recipient’s bank, CRED members can skip the anxiety and initiate another transaction. Members can be assured that they will be credited money back in cases where a payment has been  debited, not reached the recipient, and is later deemed successful. This feature is available as a CRED member privilege for payments made using Scan & Pay. T&C apply*
  • Secure UPI ID with custom VPA – switch to true anonymity. create an alias UPI ID. While using Scan & Pay, CRED Protect will actively nudge members to protect their identity by creating an alias UPI ID- helping them mask personal details like mobile numbers, ensuring enhanced privacy during payments. Once Custom VPAs are activated, payments will be made via members’ alias UPI ID by default.

• Designed for delight 
  • Customizable experience – every payment puts members in the spotlight. Scan & Pay offers an elevated experience by allowing members to add flairs. A new way to engage on the CRED app, members can personalize their scanner by adding these accessories by redeeming their  CRED coins. 
    • Flairs – Neopop – the distinctive CRED design language – is built on the premise of making art a part of members’ daily lives. Members can now view a curation of artworks specially made by CRED designers and make them their own. The first series of artworks is created on the theme of ‘utopian objects’, a unique take on the artifacts that would become a part of your daily life if we were living in the perfect world.  

• Rewarding – Extending the CRED promise of making payments rewarding, members using Scan & Pay can get 2X rewards at partner merchants, deals on marquee brands, cashbacks, and curated experiences.

• Frictionless – With smart recommendations and a smart scanner that automatically zooms in on the QR code, even in low light, Scan & Pay has been built for a fast, seamless experience where one scan is all it takes.

Kunal Shah, Founder, CRED said, “CRED was built with the creditworthy in mind. The country’s top 1% have set the stage for how India consumes and we believe they deserve an experience that celebrates their contribution. India has been leading digital payments adoption with revolutionary made-in-India products and UPI is delta-4 enabling infrastructure for innovation at scale. The all-new CRED pay experience builds on top of this with privacy-first features, personalisation and other member exclusives.

With Scan & Pay enabled on CRED pay, retail merchants can offer an instant payment experience, create unique constructs and build enduring relationships with CRED member-customers, the most creditworthy in India with a high propensity for spending. Partner brands offering curated rewards to CRED members using Scan & Pay range from Starbuck, Shoppers Stop, Puma, and Chaayos among others.

How to access the ‘Scan & Pay’ feature on CRED pay 

• Step One: Open the CRED app
• Step Two: Click on Scan & Pay at the top right hand corner on the homescreen or swipe left. You can also long press the CRED app icon on your smartphone and click on the Scan & Pay option
• Step Three: Scan any QR code with the scanner or add UPI Id
• Step Four: Add your UPI pin 
• Step Five: Wait for updates to be shared through dynamic messaging till the payment is processed to merchant
• Step Six: Enjoy the rewards you earn for every payment, ranging from 2x rewards on partner merchants, deals on marquee brands, cashbacks, and curated experiences.

Unified Payments Interface, piloted in April 2016, is a system that powers multiple bank accounts into a single mobile application merging several banking features, seamless fund routing and merchant payments into one hood. It also caters to the “Peer to Peer” collect request which can be scheduled and paid as per requirement and convenience.