CRED to acquire liquor delivery startup HipBar: Reports

Fintech unicorn CRED is reportedly set to enter the wallet payments business by acquiring Chennai-based liquor delivery startup HipBar. As per media reports, HipBar has a prepaid payment instrument (PPI) licence which allows firms to issue pre-paid transit cards, vouchers. According to regulatory filings, CRED Founder Kunal Shah and his brother Rohan Shah have joined the HipBar board as directors.