BharatPe, India’s financial tech company announced that BharatSwipe, its vertical POS has gained profits within two months of its launch. The company has claimed that this is the fastest launch to the profitability of any brand in the country. Read the entire article to learn more about this news piece.
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Speaking about the achievement, Shashvat Nakrani, Founder, BharatPe, who also spearheaded the launch and scale-up of BharatSwipe for the company, said: “BharatSwipe turning profitable is a great validation of the merchants’ trust in us and our business model. Today, we clock close to four million transactions on our POS devices every month. We are committed to scaling this business and are aiming to end this fiscal with $6 billion in annualized TPV. As we move ahead, we will focus on partnering with the best in the business to launch a range of offerings and new products with the objective of offering a superlative experience to our merchant partners.” Adding: “Earlier this year, we had announced a strategic partnership with Ingenico and will be launching the new Axium POS machines coupled with PPaaS soon with the aim to offer world-class payment and commerce services to our merchant partners and further help them grow their business. We will also launch new offerings like consumer credit as well as loyalty and reward features on our POS machines so as to enable our merchants to sell more and further grow their business.”
BharatPe has proved to be a boon for the shopowners. If you don’t know anything about BharatPe, it is a financial tech company that has made receiving payments easier for shopkeepers. Through Bharatpay they receive a single QR code that can be scanned to make payments from the UPI apps such as Google pay, Phonepe, etc and all these payments can be received for free. No charges will be levied. Therefore, it proves to be a lifesaver for the merchants. The perks of using the app apart from the fact it is free is that shopkeepers can earn an interest of up to 12% through these payments and they can borrow a loan whenever they are in need. BharatPe has a team of skilled professionals who work day and night to make the lives of merchants easier, convenient, and cash free. Managing cash can be a lot of hassle so UPI payments provide them with an option of the money straight away going to the bank account without any kind of cheating.