Verestro & CRED: Revolutionizing User Experience with Cards and Tokenization
- Verestro
- Apr 24
- 3 min read
Updated: May 14
In the fast-paced world of fintech, delivering seamless and secure user experiences is paramount. This is the story of CRED, a leading Indian fintech innovator. CRED's strategic implementation of Verestro's advanced card tokenization solution has fueled its ascent to the forefront of India's fintech revolution. This integration has been pivotal in enhancing the CRED platform and significantly improving the user experience, thus strengthening its position as a leading force in India's ever-evolving financial landscape.
Table of Contents:
About CRED
CRED, founded in 2018 by Kunal Shah, is an Indian fintech company that has rapidly evolved into a multi-service financial platform. The company initially gained traction by offering rewards for credit card bill payments and has since expanded into various financial services including lending, wealth management, and expense tracking. Operating in a fast-growing Indian market with over 1 billion debit cards and 50 million credit cards, CRED has capitalized on a significant shift towards digital payments and card transactions. As of June 2024, CRED reported 13 million monthly active users (MAUs).
CRED describes itself as a company that values trust as its core principle — a value shared with Verestro. This alignment in values laid the foundation for a successful partnership.
The Challenges of a Fast-Growing Fintech
As CRED scaled, it faced several challenges typical of high-growth fintechs:
- The need to centralize and streamline card management for users, providing an easy-to-navigate and secure platform.
- Maintaining security and user trust amidst increasing transaction volume.
- Supporting tokenization and card digitization to meet demand for secure, contactless payments.
- Addressing market growth pressures as India’s digital payments infrastructure rapidly expanded.
CRED’s rapid growth required a partner capable of delivering a flexible, scalable, and secure solution to handle increasing transaction volumes and to support the company’s product innovation goals.
The Verestro Solution: Cards and Tokenization
In 2021, CRED partnered with Verestro to integrate its Card Tokenization platform into CRED’s existing infrastructure. The collaboration enabled:
- Digitization and tokenization of cards for secure, convenient transactions.
- Full encryption of customer and transaction data, ensuring top-tier security.
The implementation focused on creating a seamless experience for users, enhancing both trust and usability — aligning perfectly with CRED’s brand ethos.
Key features included:
- Support for tokenized transactions across various payment rails (NFC).
- Real-time card digitization and token issuance.
- Integration with customer-facing UI to allow in-app management of issued cards.
Remarkable Results: Fueling Growth and Trust
The card tokenization implementation for CRED resulted in a massive surge in in card tokenizations and transactions, reaching 3,470,445 transactions and 2,093,170 digitizations between 2024 and 2025. Over 1.7 million tokens were issued in the past year, with consistent monthly growth. Recent data underscores the successful implementation, showing over 300,000 transactions and more than 145,000 digitizations per month. Token issuance remained strong, exceeding 1.5 million monthly.
Extrapolated data suggests that by mid-2025, the number of active tokens will surpass 2 million, reflecting both demand and trust in the platform. CRED’s MAU growth from 5.9M in 2021 to 13M in 2024 demonstrates the company's broader expansion, enabled in part by streamlined and secure card services.
Crucially, through Verestro’s secure infrastructure and unwavering commitment to tokenization, CRED has successfully fortified its data security and enhanced customer trust – pillars that are fundamental to its brand identity.
The Power of Partnership and Innovation in Fintech
The partnership between CRED and Verestro demonstrates how collaboration and the adoption of new technology can foster company growth and build customer trust. Verestro has played a key role in helping CRED become a major player in India's growing online finance sector by making card use easy and safe. This success demonstrates the importance of teaming up and using smart technology to enhance user experience and fuel growth.
