Cred, MobiKwik Become First Fintech Firms to Offer RBI CBDC Wallets

Cred and MobiKwik have launched RBI's E-Rupee CBDC e-wallets, sponsored by Yes Bank, supporting UPI-based P2P and merchant payments. Limits include Rs 50,000 daily and Rs 10,000 per transaction, with PIN-less payments under Rs 500 — extending digital payment rails for Indian retail.

— FiledTue, 30 Jun, 2026, 01:49 IST·First seen Tue, 30 Jun, 2026, 01:49 IST·Source Medianama

What happened

Cred and MobiKwik become the first fintech firms to launch RBI CBDC (E-Rupee) e-wallets, sponsored by Yes Bank, supporting UPI-based p2p and merchant payments —

Key facts

  • Rs 50,000 daily limit
  • Rs 10,000 per transaction
  • Rs 500 PIN-less threshold

Why this matters

Yes Bank's sponsorship model for CBDC wallets signals a partnership template that bank and fintech players should evaluate for distribution alliances as CBDC rails extend beyond traditional banking incumbents.

What to watch

  • RBI monthly CBDC circulation and active wallet figures
  • Daily/per-transaction limit revisions upward
  • Additional fintech licensees announced for CBDC distribution
  • Yes Bank operational or capital stress affecting sponsorship
  • Government push to route subsidy/programmable payments via CBDC
  • Watch PhonePe/Paytm/Google Pay announce CBDC wallet integrations within 1-2 quarters
  • Cred/MobiKwik bundle CBDC with rewards or merchant incentives to drive activation
  • RBI expands sponsor-bank roster beyond Yes Bank to de-risk concentration
  • Merchant acquirers pilot programmable/offline CBDC features as differentiation

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