UPI-based P2P payments: Key details
Peer-to-Peer (P2P) payments on UPI can be used everywhere — from settling bills to paying for groceries, or even sending money to other users.
Cred’s UPI P2P feature will allow users access to the ‘smart recommendations’ which will offer reminders on recurring payments. This feature will also make transactions safer by offering “proactive nudges” in potentially risky payment scenarios. These alerts will appear when members make payments while on call, or during high-value transactions.
CRED Protect will also protect users’ identities through a system-generated alias UPI ID. This will help users to mask personal details like mobile numbers and ensure privacy. Once Custom VPAs are activated, payments will be made via members’ alias UPI ID by default.
Whenever users access the UPI P2P option to make payments to ‘special contacts’ a “Win-Win” feature is activated. This will offer both the sender and the recipient cashback which will be credited to the Cred balance. This balance can be redeemed on any bill payment or store transaction done through Cred.
P2P payments during Tata IPL 2023
Cred is one of the official partners of the Tata IPL 2023 which started on April 17. Members sending money to 5 friends through Cred UPI P2P, during the Cred powerplay, will stand a chance to win 5 Tata IPL 2023 VIP match tickets.
Users who send money to a friend during a match will also stand a chance to win 100% cashback on any bill. Users who made their bill payments during the Cred Powerplay and 13th over were also eligible to win 100% cashback and 5 Tata IPL VIP match tickets.