CRED logo, Kunal Shah and HIPBAR logo

Photo: Next Big Brand

Cred Purchases HIPBAR, Liquor Delivery And Purchase App

HIPBAR, an alcohol purchase and delivery business located in Chennai, has been purchased by Cred. The action is in response to the fintech unicorn's intentions to enter the wallet payments sector by acquiring HipBar's prepaid payment-instrument (PPI) license. Cred intends to use HipBar's PPI to create a layer of payment wallets for its platform. PPI license permits businesses to run payment systems like digital wallets and pre-paid vouchers, among other things.

Fri, 22 Oct 2021 - 12:57 PM / by Vidhi Jhunjhunwala

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