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CRED elevates UPI checkout experience at Premium Lifestyle Retailers

By Gloria Mathias

May 02, 2024

  • Banking
  • Checkout payments
  • Cred
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CRED, RuPay Credit Card, UPI payments, NPCI, National Payments Corporation of India, Payments, Online Payments, Online Transactions, Domestic, banking, UPI Transactions, Checkout payments, Premium Lifestyle payments,CRED, the rewarding payments platform, has plans to upgrade the checkout experience for UPI transactions at offline lifestyle merchants.

The new experience includes pocket, kiosk, and dynamic QR checkout terminals, which will enable merchants to offer a rewarding experience for affluent customers and complete the elevated UPI journey from scanner to reward.

CRED checkout terminals come in multiple form factors, from pocket to kiosk, aimed at extending the immersive experience intended with CRED Scan and Pay. Large merchants serving lifestyle needs such as fashion and dining can apply for specially designed CRED Dynamic QR devices powered by Pine Labs and Razorpay POS.

The new terminals enable merchants to offer personalised and targeted rewards for specific types of users, cards, and transactions. All UPI users can pay through CRED checkout terminals from any app. CRED members will have access to the complete upgraded UPI experience.

CRED terminals can offer additional rewards for specific users, enhancing the contextual experience. On completing every UPI transaction, members will also earn cashback that they can use to pay down their credit card bills. CRED has completed the pilot for these terminals and will roll them out to large lifestyle outlets across India throughout the year.

The CRED checkout experience is aimed at merchants in affluent neighbourhoods with a high average order value paid primarily through credit cards. These include supermarkets, quick-service restaurants, salons, fashion stores, and other lifestyle retailers. Merchants in these categories can apply to CRED to be invited to the program.

Akshay Aedula, CRED, said, “CRED UPI is a payment experience for the affluent. CRED members also use UPI for large purchases at premium outlets, and we’ve created an elevated experience for those moments, from scanning to checkout to reward. CRED checkout terminals enable merchants to engage with affluent customers by offering a premium and rewarding experience for high-value payments, not just credit card bills. Members enjoy rewards regardless of whether they are paying on a credit card or UPI.”

 

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