Scan and pay via UPI. earn assured rewards. claim collectibles. all of this in a secure payment experience the creditworthy deserve.

Together, PhonePe (49.5%), Google Pay (34.6%), Paytm (10.65%), and CRED (1.8%) executed 636 Cr UPI transactions reaching INR 10.32 Lakh Cr.

By processing payments of INR 19,084.30 Cr, CRED handled approximately 1.5 Cr transactions, placing fourth in terms of transaction volume.

Image credits Inc42

Indian fintech unicorn CRED has introduced a Unified Payments Interface (UPI) payment feature, ‘Scan & Pay’, on its app for its members.

Features of CRED Pay

The service, which will be limited to CRED members, will also allow users to make peer-to-peer (P2P) transactions from their bank accounts linked to the CRED app.

This can be carried out either by scanning a quick response (QR) code or by feeding in the beneficiary’s UPI identity.

In order to successfully implement the decision, Cred is looking into privacy, design and rewards.

The UPI payment experience also covers 2x rewards on partner merchants, flairs and skins, and dynamic messaging.

Furthermore, CRED added features such as CRED Protect to enable creation of alias UPI ID instead of using the default one including their phone number, by the users.

CRED also eliminates the need to raise any complaint ticket by the users in case of transaction failure, and the users’ money is returned to their bank account.

I was interested in learning why users preferred popular UPI apps like Paytm, PhonePe, and Google Pay. In order to find out which UPI app people use and why they enjoy it, I decided to conduct a quick survey of 20 individuals (my friends and colleagues).

12 people were using all the 3 apps at the same time but for different occasions. Almost all the small payments in local shops were done through Paytm (tea, tobacco, and snacks) and all the other payments like Ecommerce purchase, Food Services, and Transferring money to friends and family was done through PhonePe and Google Pay.

Google pay showing in the recommended payment, PhonePe UPI ID is easy to enter and remember, and Paytm Scan QR is easily accessible.

Another reason for using Google Pay is cashback.

5 people were using Paytm in the past but now they switched to PhonePe because of the recent news which tarnished Paytm’s credibility.

3 people were using Google pay because they believe in Google that their money will be safe. Can’t blame them :D

CRED already provides existing features like cash rewards and coupons for paying using CRED pay.

CRED can collaborate with Food tech giants like Zomato, Swiggy, and Dunzo to show their payment mode in the recommended section.

Introducing CRED UPI ID for receiving and accepting payment form Ecommerce and other individuals.

CRED can change their “scan and pay” button to the bottom of the screen. By doing that they are implementing 2 most used laws in the world of UX.

Thumb Rule

Users spend most of their time on other sites. This means that users prefer your site to work the same way as all the other sites they already know.

A small change in the UI can have a very good business impact on the product.

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