CRED lets you use QR codes to pay in stores without internet

CRED, an Indian fintech unicorn, launched in-store payments at major retailers earlier this year. Following successful pilots, they’re now strategically expanding the service to select stores across India.

Targeting high-end retailers, CRED, backed by investors like Tiger Global, Insight Partners, and Peak XV, has been aggressively pushing its new in-app QR code payment functionality.

The service is primarily aimed at businesses that deal with large average transaction values, and their customers usually use credit cards for payment. This includes grocery stores, fast-food chains, beauty salons, and various fashion and lifestyle shops. The app will also reward customers for every purchase, regardless of the payment method used. These rewards can be redeemed against credit card bills.

CRED also piloted its offline payment services in April, having already secured in-principle approval from the Reserve Bank of India for its online version.

Big retailers in sectors like dining and fashion are in for a treat with Cred’s new device. Equipped with Razorpay POS and Pine Labs technology, this device can take the form of a portable ‘pocket’ or a ‘kiosk’ designed for busy areas or a display screen. The ‘kiosk’ feature allows customers to order directly through the device, making payments via UPI and adding a new level of convenience to the shopping experience.

The new devices will allow retailers to offer customised and targeted rewards based on user profiles, card types, and transactions, as stated by the company. All UPI users can use the Cred checkout terminals from any app that supports UPI’s interoperability feature.