Cred introduces offline QR code ‘scan & pay’ service, kiosks for merchants

Fintech company Cred has launched a UPI-based ‘Scan and Pay’ service that enables members to use any QR code for payments directly from their bank accounts.

The launch move marks Cred’s foray into the offline payments space dominated by PhonePe, Google Pay, and Paytm.

Cred has been pushing its UPI (Unified Payments Interface) payments feature aggressively. The company said the feature will be convenient to make offline retail payments at large format stores. Such stores comprise supermarkets, fast-food joints, beauty salons, fashion boutiques, and various lifestyle retailers. The focus is on merchants with substantial average transaction amounts and whose patrons predominantly opt for credit card payments, it said.