3 min read.Updated: 21 Oct 2021, 01:40 AM ISTArti Singh
HipBar’s app allows consumers to buy a range of alcoholic beverages and pay using its wallet
NEW DELHI : Cred, a credit card bill payments platform, is set to enter the wallet payments business by acquiring liquor delivery startup HipBar Pvt. Ltd, which owns a prepaid payment instrument (PPI) licence, three people aware of the development said. The PPI licence, granted by the Reserve Bank of India (RBI), permits companies to operate payments systems such as digital wallets, pre-paid transit cards, vouchers and so on. The RBI website lists 37 entities that hold the licence as of this month. HipBar was granted the licence in August 2016.