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BharatPe eyes $6bn in annualized transaction

July 16, 2021

BharatPe eyes $6bn in annualized transaction

Fintech firm BharatPe on Thursday said it is planning to scale up its POS business by multiple times and has set an objective of $6 billion (about ₹44,719 crore) in annualized transaction processed value(TPV) before the end of 2021-22.

BharatPe, which is the third biggest player in private point of sale (POS) classification, is also working on at ramping up its compass by five times and sell ‘BharatSwipe’ in 80 urban cities across India before the end of the ongoing financial year, a statement said.

Besides, it is wanting to extend brand partnerships significantly, and offer consumer credit to drive further worth on the POS business, it added.

BharatPe had launched BharatSwipe, its card payment acceptance machine in the second half of 2020.

“This (POS) business has scaled up quickly, and presently contributes 20% to the overall payments TPV of the organization. Today, BharatPe has an introduced base of more than 1 lakh BharatSwipe machines across 16 urban areas in the nation and facilitates transactions of over ₹1,400crore every month,” a statement said.

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