Today, I am bringing to light one incident which has happened last year in August when most of the banks were migrating to BBPS. I had initiated a payment of my Mother's (a senior citizen) ICICI card via CRED. The payment showed successful on the app but was not credited to the card. I erred by not verifying on ICICI app after the payment. I have been using CRED since 2020 for making my and my Parents card payments due to the convenience of timely reminders. I hadn't faced any problem with them in over 500 transactions.
My Mother's card details were already saved on CRED and payment used to be made by CRED using IMPS / NEFT. However, after the RBI instruction all banks migrated to BBPS in June - July last year.
CRED does not have an option to input registered number - last 4 digits which is necessary for making BBPS payments. Instead they require to input 16 digit card number, expiry / cvv to perform a token transaction to verify a card. This system is even followed today.
ICICI says that the payment has been made to a wrong card account. However, with BBPS which CRED claims to have used, it is impossible to make payment to a wrong card account. Billdesk confirmed that payment has been made to card no XXXX (My Mother's card) but are unable to verify the registered number used.
CRED could not have made a BBPS payment using my registered number and my Mother's card number since, BBPS would not have been able to fetch any details since I do not have an ICICI card with same last digits as my Mother's. Since, Billdesk has been able to verify the origin of the transaction, it seems that BBPS has been used by CRED and somehow the payment has been made to a wrong account ? This has me scratching my head.
I have been following up with CRED / ICICI and have escalated to the highest levels at ICICI but without any outcome.
This incident serves as a cautionary tale to anyone using CRED. Since, then I'm using other bill payment providers who are BBPS complaint unlike CRED. The amount involved was less than 5k in this case.
If anyone has had a similar experience, please come forward and provide details as to how this matter could be resolved. I request the Experienced Technofinoians and @TechnoFino for any inputs.
Best Regards
My Mother's card details were already saved on CRED and payment used to be made by CRED using IMPS / NEFT. However, after the RBI instruction all banks migrated to BBPS in June - July last year.
CRED does not have an option to input registered number - last 4 digits which is necessary for making BBPS payments. Instead they require to input 16 digit card number, expiry / cvv to perform a token transaction to verify a card. This system is even followed today.
ICICI says that the payment has been made to a wrong card account. However, with BBPS which CRED claims to have used, it is impossible to make payment to a wrong card account. Billdesk confirmed that payment has been made to card no XXXX (My Mother's card) but are unable to verify the registered number used.
CRED could not have made a BBPS payment using my registered number and my Mother's card number since, BBPS would not have been able to fetch any details since I do not have an ICICI card with same last digits as my Mother's. Since, Billdesk has been able to verify the origin of the transaction, it seems that BBPS has been used by CRED and somehow the payment has been made to a wrong account ? This has me scratching my head.
I have been following up with CRED / ICICI and have escalated to the highest levels at ICICI but without any outcome.
This incident serves as a cautionary tale to anyone using CRED. Since, then I'm using other bill payment providers who are BBPS complaint unlike CRED. The amount involved was less than 5k in this case.
If anyone has had a similar experience, please come forward and provide details as to how this matter could be resolved. I request the Experienced Technofinoians and @TechnoFino for any inputs.
Best Regards
