Cred  enters wallets via HipBar purchase

  • A Cred spokesperson confirmed that the company is close to acquiring an existing PPI service provider without naming the startup.
  • New rules for PPIs announced by the RBI in April doubled the limit for money that can be loaded in a wallet to ₹2 lakh and made interoperability between wallets mandatory by March 2022.
  • Funds transfer or cash withdrawal from such PPIs shall not be permitted, whereas full-KYC PPIs can be used to purchase goods and services, transfer funds or withdraw cash.


Sign Up for nextbigwhat newsletter

The smartest newsletter, partly written by AI.

Download, the short news app for busy professionals