Improving

Usage Of Cred
UPI
About Cred
● CRED is an app that rewards individuals for their timely credit card bill payments by
providing them with exclusive offers and access to premium experiences.

● It is a platform that allows credit card users to manage multiple cards along with an
analysis of their credit score.

Net Revenue FY 23
$180M
Vision Mission

Revolutionize the way people Create a trustworthy financial Active User Base
$10M
manage and perceive their ecosystem by rewarding
finances, making it a more responsible financial behavior
rewarding and enjoyable and providing innovative,
aspect of their lives. user-centric financial services Valuation
$6.4B
UPI Market Trend
Amazon Pay Others
Cred 1% 2%
1%

Paytm PhonePe rules the UPI Space

14%
with 47% market capture

PhonePe
47% Cred has significantly low
Google Pay
market capture especially
35% when it comes to UPI usage
300 million
Total number of UPI users in India
Breakup Of UPI Users By City Tiers

Tier 3 Tier 1
15%
Tier 3 Cities include smaller
urban centers like Guntur,
Ajmer, and Tirunelveli
50% Tier 1 Cities include major
metropolitan areas like
Mumbai, Delhi, Bangalore,
and Chennai

Tier 2 30% 5% Rural

Tier 2 Cities include smaller Rural areas include villages
urban centers like Pune, like Bhor in Maharashtra,
Jaipur, and Chandigarh Sitamarhi in Bihar, and
Rampur in Uttar Pradesh
Breakup Of UPI Users By Generations

UPI

Gen Z Millenials
35% 45%
11-26 years 27-42 years

Gen X Boomers
15% 5%
43-58 years 59-77 years
Cred UPI SWOT

Weakness
Strength

Strong Engagement Complex UX

Loyal Customer Base Subpar Customer Support

Exceptional Rewards Limited 3rd Party Integrations

Leveraging AI Customers hooked to other

Opportunities

apps

Threats
Enhanced Rewards
Programme Tough Competition

Educational Marketing Security concerns over UPI

Cred UPI
Payment
User Journey
 Customer Clicks On Scan Customer enters the amount, remark
Action Customer scans a new QR code Customer receives payment status
& Pay & bank account

Sentiment

Not able to seamlessly select my

It is very difficult to Easy to use, and getting the rewards
Remarks frequent contacts or previously Simple UX and easy to use navigation.
navigate through menu post payment makes them happy
used contacts.
PhonePe
Payment
User Journey
 Customer Clicks On Customer enters the amount, remark
Action Customer scans a new QR code Customer receives payment status
Scan & Pay & bank account

Sentiment

Navigation is simple Able to scan new QR or send to Easy to use, and getting the rewards
Remarks however ads are someone by mobile or to my Simple UX and easy to use navigation. post payment makes them happy.
interrupting friends Split expense is also an addon
Google Pay
Payment
User Journey
 Customer Clicks On Scan Customer enters the amount, remark
Action Customer scans a new QR code Customer receives payment status
& Pay & bank account

Sentiment

Navigation is simple Able to scan new QR or send to Easy to use, and getting the rewards
Remarks however ads are someone by mobile or to my Simple UX and easy to use navigation. post payment makes them happy.
interrupting friends Split expense is also an addon
User
Personas
User Persona 1 Goals

• Streamline bill payments &

financial transactions
Name • Needs rewards &
incentives for spends
Smita Patil
• Transactions should be
secure
• Prefers a simplistic app
Occupation without much tech
savviness
Marketing Manager
Frustrations

City • Has limited time to

manage finances
Delhi • Finds traditional banking
process to be tedious &
cumbersome
User Persona 2 Goals

• Attracted to platforms that

offers rewards
Name • Interested in learning
personal finances
Rahul Sharma
• Open to trying latest apps
• Does not carries cash
anywhere and aims for
Occupation hassle free payment
everywhere
Student
Frustrations

City • Balancing studies and

finances is hectic
Bengaluru • Feels overwhelmed with
financial terminologies &
processes
User Persona 3 Goals

• Mindful of expenses and

aims to manage money
Name wisely
• Seeks hassle free ways for
Sarojini Nayak
monthly bill payments
• She's attracted to
platforms that offer
Occupation discounts, cash-back, or
rewards on everyday
Homemaker
Frustrations

City • Spends on online & offline

transactions without limits
Pune and later regrets
• Often forgets to pay bills
on time
User Pain
Points
 Marketing ads &
campaigns are not
intuitive enough to
target someone to hop
to Cred UPI.
Rewards are useless

Very less promotions or

marketing in online &
No UPI Mandates
offline channels

Complex UX & No indication of

Navigation monthly spends

No Soundbox
Integration No UPI Lite

Users hooked to
existing apps
Proposed
Features
Simplified User Experience
One of the primary reasons why customers are hooked on to
PhonePe/Google Pay is because of the simplistic User Experience

Although the “Design System” of Cred – Fabrik, Copper & NeoPOP are
widely appreciated and are industry leaders, but the complex
navigation of the app has been a major reason of not retaining
customers despite having a good reward system

•Intuitive Navigation:
A clean and intuitive interface that is easy to navigate ensures users can find
the features they need without frustration. Grouping related functions logically
and using familiar icons can enhance usability.

•Minimalist Design:
Adopting a minimalist design can reduce cognitive load, helping users focus
on essential tasks without being overwhelmed by unnecessary information or
options.
Daily Quests

Daily quests encourage users to engage with the CRED app regularly.
By offering small, achievable tasks that can be completed daily, users
develop a habit of opening and using the app frequently

Repeated interaction with the UPI payment feature through daily quests
reinforces the behavior, making users more comfortable and likely to
use UPI for their transactions.

Offering immediate rewards for completing daily quests, such

as cashback, points, or discounts, provides instant gratification,
which motivates users to participate regularly
Automate Subscriptions

Users can set up automatic payments for recurring expenses such as

utility bills, mobile recharges, streaming services, and more. This
eliminates the need to manually process each payment every month.

The ease of setting up these automated payments through a single

platform can attract users looking for hassle-free management of their
recurring expenses.

Automated payments ensure that bills are paid on time, helping

users avoid late fees and penalties, which can be a significant
incentive for adopting the feature.
Smart Money Manager
The AI-based smart money manager automatically categorizes
every transaction into buckets such as groceries, dining, utilities,
travel, and entertainment. This helps users understand their
spending patterns.

Users receive detailed analysis of their spending habits, allowing

them to identify areas where they are overspending.

Users can set financial goals, such as saving for a vacation or

paying off debt, and the smart money manager can track
progress towards these goals.

Regular updates and reports on progress help keep users

motivated and on track.
Cred Soundbox

Soundbox helps with offline marketing as well as user retention.

It serves two purpose at the same time. It helps with revenue

generation from UPI payments while at the same time helps with
branding as well

The ease of using UPI soundbox for payments appeals to both

tech-savvy users and those less comfortable with technology,
broadening the user base.
Feature Prioritization
Feature Reach Impact Confidence Effort Score
Simplified UX 5 5 5 1.5 83.3

Daily Quests 3 4 5 1 62.5

Cred Soundbox 5 5 5 2 62.5

Automated
4 4 4 1.5 42.7
Subscriptions

Smart Money
4 4 4 2 32
Manager
Go To Market Strategy
Marketing
Campaigns &
Promotions on 3rd
Party Sites such as
Marketing Ads on TV MMT
targeting UPI
features of Cred

Tie Up with leading

Influencers for
marketing
Promote in leading
offline areas such as
groccery shops

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Measuring Success

Improve Usage Of Cred UPI By 15%

Increase in Increase in Increase in Increase in

number of number of Daily number of Daily Gross Volume
Monthly Active Active Users by Transactions by of Transactions
Users by 15% 15% 20% by 25%

Reduction in Improve CSAT Score

100% adoption of
number of failed by 25% & NPS by 15
new features
transactions by 15% points
Thanks!

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