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Cred enables users to redeem their points to donate Oxygen

In partnership with Milaap, the start-up aims to source a billion litres of Oxygen.

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MUMBAI: As India struggles to keep up with the growing demands for oxygen and healthcare amid the second Covid wave in the country, several start-ups and corporates have pitched in to aid the efforts. Kunal Shah-led Credit payment platform Cred too has come up with one such initiative. The fintech announced Monday that it will allow its app users to donate their Cred coins to help send oxygen for those in need. The start-up stated that it has partnered with Milaap, India’s leading healthcare fundraising platform for the cause.

It may be noted that Cred coins are points earned as reward by its users for paying their credit card bills on time. Each of these coins represent every rupee in credit card bills that the customers pay using the app. Trading in 10,000 Cred coins lets you donate 1,000 litres of oxygen, 25,000 Cred coins gets 2,500 litres of oxygen, and so on. Cred says that for every donation made by users, Milaap will channel the funds raised to their partners, and will buy as well as deploy oxygen concentrators for hospitals and healthcare non-profits across India.

The payment app announced the initiative on its social media platforms :

Cred founder Kunal Shah shared, “We have seen how mobilisation of ordinary people, their time, resources, and energy has created change and action.”

He went on to add, “You can also help by sharing ideas on streamlining oxygen supplies on oxygen@cred.club. The Cred Oxygen Fund will consider all ideas, evaluate and provide support needed.”

Update: CRED members can now donate CRED coins towards buying oxygen concentrators for hospitals, healthcare orgs across India. With a goal of 1 billion litres, we’ve partnered with Milaap to ensure contributions reach hospitals in need.

— Kunal Shah (@kunalb11) April 26, 2021

Shah shared his donation certificate from Milaap, post donating CRED points:

The gesture won lots of appreciation and plaudits, with many welcoming such an initiative when the country really needed it. Many users tweeted they would willingly and happily give up their CRED coins, for such a noble cause, with some even adding tongue-in-cheek that they “anyways did not have much use for them”.

The news was received with some scepticism too.

Some called it “Undoubtedly the best use of cred coins”!

Many Twitterati felt the exercise should be more transparent to build trust and confidence in it:

Several sought to know how the scheme works: “How are the cred points acting as a currency to purchase/donate oxygen concentrators (esp when they are in such short supply) and if the cred points are able to purchase it, why aren't they available via INR in different points of sales.”

Another netizen pointed out : “Sir- With all due respect- we have an availability problem. Please urge all your customers to donate plasma if they have survived the infection.”

While quite a few wondered how Cred would implement this cause, considering that there’s oxygen shortage, many netizens termed it a marketing gimmick to increase engagement on the app.

One netizen even criticised the action saying, “If free coins can buy oxygen, please generate as many as you can, and buy the damn oxygen. Why ask people to donate theirs?”

Others tweeted :

Some users hoped that there would be a report published at the end of this on how effective these contributions are and what difference it has made, while a few canny netizens pointed out: “Off late, many marketing campaigns are only created to create traction with users but no significant impact.”

Well, for all the sceptics and for those who are worried that this will be just another fund which has no transparency, the company has put out a notification. The firm says that starting 3 May, there will be daily updates published in the Cred app giving you the status of exactly how the oxygen concentrator deployment is happening across India.

Meanwhile, Milaap co-founder Anoj Viswananthan took to Twitter to share an update on the initiative: “UPDATE: We are incredibly grateful for the tremendous support shown by the CRED community  @CRED_club towards  @milaapdotorg initiative for  oxygen concentrators in the last 24 hours.”

You can read the complete update here:

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