WHAT IS CRED?

WHAT IS CRED?
Cred is a financial technology company based in india that provides a platform
for users to earn rewards and points for paying their credit card bills. It partners
with various banks and credit card companies to offer its users a range of
benefits and rewards for their spending.
Cred also offers features such as bill reminders, payment tracking, and
personalized insights to help users manage their credit card spending and
improve their financial health. Additionally, the company has a strong focus on
design and user experience, making its platform both visually appealing and
easy to use.
FOUNDER
 FOUNDER
Cred was founded in 2018 by Kunal Shah, a serial entrepreneur from
India. Shah is well known for his previous startup, FreeCharge, which he
co-founded and sold to Snapdeal for $450 million. He has extensive
experience in the Indian technology and payments industry, and his vision
for Cred was to create a platform that would reward users for their credit
card spending and help them make better financial decisions. Under
Shah's leadership, Cred has quickly become one of the leading financial
technology companies in India, attracting significant investment and
recognition from the industry.
BUSINESS MODEL
 BUSINESS MODEL
The 3 pillars of CRED's business model - Customers who pay credit card bills, The CRED app, and the
Businesses who provide offers on the app.

1. CRED'S CUSTOMERS - Many people pay their credit cards using payment apps or by directly
logging into their bank accounts. By using the CRED app, they can perform the same function of
paying their credit card bills more beneficially.

2. CRED APP - The app allows users to sign up and see all the available offers on paying their credit
card bills. As you continue to pay bills, you accumulate CRED coins which you can redeem for the
rewards.

3. BUSINESSES THAT PROVIDE OFFERS ON THE APP - Bringing businesses on board

and forming tie-ups with them is imperative for CRED.In order to access CRED programs, a credit
score of more than 750 must be obtained. CRED rewards its users with CRED coins for bill payments
which can later be redeemed with the offers available.
 TARGET
CUSTOMER
 TARGET CUSTOMER
Cred targets a specific segment of consumers who are looking for a more rewarding and convenient
way to manage their credit card bills. Its target audience includes:

1. Credit card users: Cred is primarily aimed at individuals who own one or more credit cards
and are looking for a more streamlined and rewarding way to manage their credit card bills.

2. Tech-savvy consumers: Cred appeals to individuals who are comfortable using technology
and are looking for a digital platform to manage their finances.

3. Premium credit card holders: The platform is particularly appealing to individuals who
hold premium credit cards and are looking for additional benefits and rewards.

4. Value-conscious consumers: Cred targets consumers who are looking for more value
from their credit card usage and are willing to pay their bills on time to earn rewards.
REVENUE
GROWTH
REVENUE GROWTH
CRED's losses widened by 45 percent year-on-year to Rs 524 crore
for the period ended March 31, 2021, from Rs 360 crore a year
ago. This was after the platform raised more than $450 million in
2021.The company, however, saw a jump in revenues from Rs
18.16 crore in FY20 to Rs 95.53 crore in FY21 on the back of a low
base effect.  Total revenue from operations jumped to Rs 88 crore
in FY21 from Rs 52 lakh in FY20 .
UNIQUE SELLING
POINT
 UNIQUE SELLING POINT
1. Rewards Program: Cred offers rewards points to its members for timely payment
of their credit card bills. These points can be redeemed for a variety of rewards such as gift
cards, discounts, and premium experiences.

2. Personalized Experience: Cred offers a personalized experience to its members

by providing tailored insights and recommendations based on their spending behavior and
credit card usage.

3.Ease of Use: The platform is designed to be user-friendly and offers an intuitive

interface, making it easy for users to manage their credit card bills and rewards.

4.Partnership with Leading Brands: Cred has partnerships with leading brands
across various categories, which allows its members to access exclusive offers and discounts.
PROBLEM AREA
 PROBLEM AREA
• There have been a number of complaints regarding CRED that
payments are not getting processed on time. However, the number
of successful payments is more than the number of failed ones.

• CRED only has an email address – feedback@cred.club – as a means

of communicating with them. So there is problem of late
communication with cred.

• Sometimes there is also the problem of double payment wherein it

first shows error in payment and then when you again do the
transaction again, money will be debited in your account twice.
COMPETITORS
 COMPETITORS
PAYTM - Paytm is India’s most popular and also one of the best credit card bill payment apps. It
allows you to pay all sorts of bills. While there is no permanent cashback structure, a limited-time
campaign offer is now available.

MOBIKWIK - Mobikwik is another one of the best credit card bill payment apps to pay credit card
bills instantly. When you pay your credit card payment with the Mobikwik app, you get Supercash as a
reward. You can use this Supercash to make other payments in the app later (up to 5 per cent per
transaction).

PHONE PE - Phonepe, another of the best credit card bill payment apps in India that offers the best
cash back, provides a section for paying credit card bills. Phonepe gives scratch cards as a prize. The
feature will be enabled once you have paid the bill.

 AMAZON PAY - Amazon Pay is yet another one of the best credit card bill payment apps that uses
your account information saved in your Amazon accounts to optimise checkout.
FUTURE SCOPE
 FUTURE SCOPE
Cred has significant potential for growth and expansion in the future. Some of the areas where Cred can
potentially expand its business in the future include:

1.International Expansion: Cred has already established a strong presence in India, but there is
significant potential for the platform to expand into international markets and tap into new customer
segments.

2.Expansion of Financial Services: Cred has the potential to expand its offerings beyond credit
card bill payments and rewards and into other areas of personal finance, such as savings and investment
products.

3.Partnership with Banks and Financial Institutions: Cred can potentially form
partnerships with banks and financial institutions to offer its services to a wider audience and leverage its
technology and expertise to offer innovative financial products.

4.Diversification of Rewards Program: Cred can potentially diversify its rewards program to
include a wider range of rewards and experiences, such as travel and entertainment.
SWOT ANALYSIS
 SWOT ANALYSIS
Strength :
Nearly 6 million users are actively using the
Cred app Users pay bills and earn rewards
as coins in return as the coins can be used
to purchase special offers on Cred store.
Weaknesses :
Users can only borrow a maximum of 5
million rupees from the platform, which is
quite low. Putting financial data on a third-
party platform is risky
Opportunities :
Indian governments can support this system to
align the taxpaying framework. Engage
teenagers to use fintech systems and
encourage more people to learn about fintech
knowledge and its online payment system.
Threats :
Data privacy and protection of customers are
highly vulnerable to hacking Governments may
seek private data of taxpayers from the
company