CRED launches CRED Pay for instant, one-click payments on credit cards

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https://m.timesofindia.com/gadgets-news/cred-la...

https://www.afaqs.com/news/mktg/cred-launches-c...

point_rightCRED Pay has been developed in partnership with Razorpay and Visa. CRED Pay helps expand their rewarding proposition by enabling members to get the same rewarding experience that they get on CRED, on partner merchant platforms;

point_rightCRED Pay is integrated with Visa Safe Click, a new product by Visa that eliminates the need for an OTP and CVV for transactions under INR 2000.

point_rightThe 30 merchants who participated in the program – including The Man Company, Man Matters, Epigamia, Damensch, and Vahdam Teas.

point_rightOver the next two months, CRED Pay will be rolled out on Big Basket, Dineout, and ixigo among others.

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I have one line to say, they are trying to solve the problem which doesn’t exist.

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ramadesidime wrote:

I have one line to say, they are trying to solve the problem which doesn’t exist.

Investors ko pagal banakey lootna iska kam hey… FreeCharge duba ab isko v dubayega…

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ramadesidime wrote:

I have one line to say, they are trying to solve the problem which doesn’t exist.

Unfortunately, I will disagree.
I had same thinking process that Cred is unnecessary and will be flop.

However, despite the reduced rewards, it is still the most convenient way to pay credit card dues. (I have 14 cards so maybe convenient for me).
Yes, I have reduced the volume flowing from Cred due to Mobikwik and Amazon, but nonetheless, it is convenient.

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pointshunter wrote:

Unfortunately, I will disagree.
I had same thinking process that Cred is unnecessary and will be flop.

However, despite the reduced rewards, it is still the most convenient way to pay credit card dues. (I have 14 cards so maybe convenient for me).
Yes, I have reduced the volume flowing from Cred due to Mobikwik and Amazon, but nonetheless, it is convenient.

Lets say, cred starts charging monthly fee of JUST Rs10 per card (instead of giving CB to you).
What would be your reaction!

Hint: They need to start charging in coming years to survive in the market.

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ramadesidime wrote:

Lets say, cred starts charging monthly fee of JUST 10 per card (instead of giving CB).
What would be your reaction!

Hint: They need to start charging in coming years to survive in the market.

They cannot start charging till neft is free

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ramadesidime wrote:

Lets say, cred starts charging monthly fee of JUST 10 per card (instead of giving CB).
What would be your reaction!

Hint: They need to start charging in coming years to survive in the market.

I understand what you are saying.
But which bill pay companies have done this without getting destroyed (hint: Niki, remember?)
I was expecting bill payments like electricity, recharge, gas etc to be monetized by a convenience fee. Still not happening (due to competition).
And there will be people who will gladly pay for this convenience (not me, though).
Indians have been very flexible when it comes to convenience fee and changed behaviour.
SmartBuy started levying convenience fee but because it has great 5X, 10X appeal, people are continuing.

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pointshunter wrote:

Unfortunately, I will disagree.
I had same thinking process that Cred is unnecessary and will be flop.

However, despite the reduced rewards, it is still the most convenient way to pay credit card dues. (I have 14 cards so maybe convenient for me).
Yes, I have reduced the volume flowing from Cred due to Mobikwik and Amazon, but nonetheless, it is convenient.

Most convenient way is still auto pay via bank account(No rewards , No need to worry about the payment, Amount gets deducted on the last day..so bank interest is earned).

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pointshunter wrote:

I understand what you are saying.
But which bill pay companies have done this without getting destroyed (hint: Niki, remember?)
I was expecting bill payments like electricity, recharge, gas etc to be monetized by a convenience fee. Still not happening (due to competition).
And there will be people who will gladly pay for this convenience (not me, though).
Indians have been very flexible when it comes to convenience fee and changed behaviour.
SmartBuy started levying convenience fee but because it has great 5X, 10X appeal, people are continuing.

Cred’s business model is little different. They have started it just looking at the volume of turn over (similar to NEFT/IMPS). But at some point, they need to monetize the user base. However, they could not find any solution till now. They are simply dragging this app for some more time with reduced offers and cb.
They may also delay the CC payment processing with couple of days similar to mobikwik to gain from the interest generated from the transaction.

In addition to above, regarding other apps which started charging, paytm is on the way to collapse (in electricity bill payment section and paytm mall) similar to niki.
HDFC Smartbuy is little different as they need to increase CC spends to gain from min balance paying users.

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pointshunter wrote:

I understand what you are saying.
But which bill pay companies have done this without getting destroyed (hint: Niki, remember?)
I was expecting bill payments like electricity, recharge, gas etc to be monetized by a convenience fee. Still not happening (due to competition).
And there will be people who will gladly pay for this convenience (not me, though).
Indians have been very flexible when it comes to convenience fee and changed behaviour.
SmartBuy started levying convenience fee but because it has great 5X, 10X appeal, people are continuing.

Everyone does the reward/saving vs fee comparison… if reward/saving is more they pay the fee else No.

All this apps are already monetizing user data mainly for targeted ads
This guys simply cant survive with convenience fee as we have so many options available

They way UPI volumes are increasing few years down the line I wont be surprise that all Debit/Credit card transactions will attract some sort of fee

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