New Delhi. The CRED app is very popular in the market these days, through which you can easily make credit card bill payment and get certain cashback. Now the company is preparing to enter the e-wallet payment business. According to media reports, Cred has acquired Chennai-based liquor delivery startup HipBar Pvt. Ltd.
Please note that Hipbar has a PPI license. RBI The PPI license granted by RBI allows companies to operate payment systems such as digital wallets, prepaid transit cards, vouchers, etc. Hipbar was granted a PPI license in August 2016.
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What is CRED App
Significantly, Kunal Shah, who was the co-founder of the digital wallet Freecharge, launched a new startup Cred in the year 2018. If you pay your credit card bill with this app, then you can get many rewards apart from cashback. With this app, you can get as many cred coins as you pay your credit card bill and get free or discounted rewards from different companies. Along with this, you can get cashback by redeeming cred coins. For example, if you pay a credit card bill of 20 thousand rupees from this app, then you get 20 thousand credit coins.
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Many features have been added to the Cred app
The facility of paying house rent through credit card or UPI has also come on the fintech platform Cred. Apart from this, loans can also be taken through Cred Cash. You can also pay education fees from this app. Recently, the company has launched a Peer-2-Peer ie P2P Lending feature for its users named CRED Mint. Through this feature, Cred members can earn up to 9 percent annual interest by giving loans to other Cred members. At the same time, through Cred Pay on some apps and websites, you can also pay with a linked credit card in the Cred app.
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