API ReferenceIntegrationsKnowledge Base

Accept Payments using CRED Pay

CRED is an app that rewards their users with CRED coins on payment of their credit card bills. These points can then be redeemed for various premium lifestyle products and services. Your customers can make payments on your website or app using a combination of CRED Coins and Credit Cards saved on CRED.

For example, if a customer has shopped on your website for ₹10, they can choose to redeem CRED Coins worth say, ₹2 and pay the rest ₹8 using credit cards saved on CRED.

CRED

Feature Enablement:
This is an on-demand feature which is not available by default. Get in touch with us to get this feature enabled on your account.

Advantages#

  • Access to premium customers whose average order value is significantly higher than that of an average customer.
  • Enjoy ZERO customer acquisition cost. Online businesses usually spend 30-40% of GMV on acquiring customers. Since your brand will be featured on the CRED app, it saves your marketing costs.
  • Avail up to 15% higher conversions with 'one-click' payments.

Pricing#

Revenue share will be calculated on the total payment amount and will be deducted along with the coin burn amount. Let us consider an example to understand this. The below table illustrates the settlement for a transaction of ₹1000 with 10% coin burn and 4% revenue share:

Particulars

Amount (in ₹)

Transaction Amount

1000

Discount availed using CRED Coins

100

Card Payment

900

CRED Pay Revenue Share

40 (4% of Transaction Amount)

GST

7 (18% of Cred Pay Fee)

Total Fee

47 (CRED Pay Fee + GST)

Settlement to Merchant

853 (Transaction Amount - CRED Coins - Total Fee)

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