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BharatPe launches loyalty based QR
October 04, 2021
PAYBACK India, which BharatPe acquired earlier in June, announced the launch of its PAY feature which will assist clients with making payments through quick response (QR) codes while earning and redeeming their loyalty points at even small merchant outlets.
PAYBACK will be opening this payment feature to its 130 million members.
“Last year PAYBACK led GMV (gross product worth) of $8 billion for partner merchants,” said Ashneer Grover, co-founder and managing director of BharatPe.
Earlier in June this year, BharatPe acquired PAYBACK India for generally $30 million, giving an exit to American Express and ICICI Investments Strategic Fund.
Through loyalty and payment features, BharatPe is additionally expected to roll out a customer credit line as well as ‘buy now pay later’ credit features within the PAYBACK ecosystem.
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