When you download the Cred app to make purchases, you will be asked to enter your financial information. After you have input your financial information, Cred will pay a small listing fee. This money comes from companies that list their products or services on the app. Companies can use your financial information to provide you with relevant offers and services. Cred also makes money by selling advertising space to these companies. However, not all companies list their products and services on the app.
The CRED app makes money by luring consumers to pay their credit card bills with attractive incentives. While it may be tempting to use the app to pay your bills, you should understand that you’ll have to incur some sort of loss each time. Even though CRED has a large user base, it is still funded by investors. Because of this, it is probably suffering a loss on every incentive it offers. That’s when it’s time for them to cut these incentives and find other methods of earning money.
CRED has a large user base, with over 1300 businesses and over 200 brands signed up at any given time. While this is impressive, it does not prove the company’s potential growth. Cred’s founders have a good reputation, as they are among the wealthiest people in India. They are also able to determine risk based on the user data. So, the company’s business model can’t be considered a success until it has a solid business model.