How does CRED generate revenue?

CRED displays the products and offers from businesses and generates revenue from businesses. There are offers from fashion retailers, to spas, to Amazon gift cards, and much more. Users can select their offer by using the CRED Coins from the app which he/she can earn by paying their credit card bills.

What is Creds business?

Cred business model is the first business model of it’s kind in India. Cred is the first app in India to pay user’s credit card bills on time & it’s founded in 2018 by former Freecharge founder Kunal Shah with the intention of creating an exclusive society with the most credible people in India.

What is operating revenue?

Operating revenue is the revenue that a company generates from its primary business activities. For example, a retailer produces its operating revenue through merchandise sales; a physician derives their operating revenue from the medical services that they provide.

How did cred become successful?

Every time a user avails of the offers, Cred generates an income through it. Using the financial data of the users – Cred accumulates the financial data from the users who use the platform for paying their bills and more.

Who does the marketing for cred?

Huzefa Ali – Marketing – CRED | LinkedIn.

Is CRED a startup?

Cred is a Bangalore-based startup. It allows credit card users to pay their credit card bills through this platform and extends rewards for each transaction.

What does the word CRED mean?

Definition of cred : credibility specifically : the ability to gain acceptance as a member of a particular group or class used … his new street cred to develop contacts — Dale Keiger.

What is the business model of cred?

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. In order to access CRED programs, a credit score of more than 750 must be obtained.

How does cred make money?

As you continue to pay bills and use the app, CRED collects your financial data to offer you better offers in the future. This is their second source of revenue. Financial institutions are always on the lookout for the most viable customers for their credit cards, loans, and other products.

What is the best source of revenue for icred?

CRED has no single best source of revenue. CRED has a varied product/service span – Rentpay, CRED Stash, Store, Credit Card Payments and CRED Pay. For instance, CRED’s Rentpay charge users a transaction fee of 1\% – 1.5\% depending on the user’s credit card network.

Who is the founder of cred?

It was founded in April 2018 by Kunal Shah, Freecharge’s former founder. Kunal shah began CRED with the intention of creating an exclusive society with the most credible people in India. It lets you handle and pay off all your credit card dues. It gives exclusive discounts on our credit card and tracks the expenses as well.