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Infibeam Avenues launches CCAvenue SoundBox Max

EntrackrEntrackr · 12m ago
Infibeam Avenues launches CCAvenue SoundBox Max
Medial

Fintech firm Infibeam Avenues has launched CCAvenue SoundBox Max, an all-in-one point of sale (POS) device tailored for merchants and retailers across India. According to CCAvenue, SoundBox Max is designed to reshape the payment landscape for retailers and merchants, offering them the flexibility to accept payments from multiple sources—UPI, debit cards, and credit cards. It is also designed to simplify and secure transactions, featuring support for static and dynamic QR payments, as well as contactless (NFC) and chip-based credit and debit card payments. Infibeam Avenues is set to enhance the CCAvenue SoundBox Max with additional value-added features, such as card EMI and brand EMI options, catering to diverse retail sectors including supermarkets, quick-service restaurants, salons, fashion boutiques, and more. The device is fully compliant with EMV L1, L2, PCI PTS, CE, FCC, and RoHS standards, ensuring robust security and performance. Infibeam Avenues claims to have processed transactions worth Rs 7 trillion (about $ 86 billion) in FY24 and currently has over 10 million clients across digital payments and enterprise software platforms. Leading fintech companies such as Paytm, BharatPe, Razorpay, Pibe Labs and PhonePe also launcher their soundbox for merchants and retailers.

Unity Bank and BharatPe to launch EMI-driven credit card

EntrackrEntrackr · 3d ago
Unity Bank and BharatPe to launch EMI-driven credit card
Medial

BharatPe, a financial services and UPI payments company, has announced the launch of Unity Bank BharatPe Credit Card, in partnership with Unity Small Finance Bank (Unity Bank). The card brings industry-first features designed to make everyday payments including groceries, bill payments, travel, utilities, insurance premiums, and lifestyle spends, both online & offline, smarter and more rewarding. Offered on National Payments Corporation of India (NPCI) RuPay network, the card can be seamlessly linked to UPI, enabling secure and convenient payments across millions of merchants in India. With a zero-fee structure, the card does away with all hidden costs. There are no joining charges, annual fees, processing charges, or foreclosure penalties. Customers also enjoy the flexibility to prepay their EMIs anytime without penalties, making credit access transparent and stress-free. The card offers flexible EMI options of up to 12 months, helping customers manage big-ticket purchases with ease. What truly sets it apart is its unlimited flat 2% rewards (Zillion Coins) on every transaction upon EMI conversion, across all merchant categories and platforms, without restrictions. Zillion Coins can be redeemed via the BharatPe app for brand vouchers, products, or even to pay credit card bills. Kohinoor Biswas, Head – Consumer Business at BharatPe, said, “Our focus has always been to make access to credit simple, transparent, and inclusive. With the Unity Bank BharatPe Credit Card, customers get a truly lifetime free card with no hidden charges. Moreover, linking RuPay Credit Card with UPI opens a multitude of convenient payment options for cardholders.” In April, BharatPe’s subsidiary Resilient secured final approval from the Reserve Bank of India (RBI) to operate as an online payment aggregator. This makes BharatPe one of the few Indian fintech companies to hold an NBFC license (through Trillion Loans), a stake in a small finance bank (Unity SFB), and now a payment aggregator license. Currently, with a registered network of over 2.5 million merchants across over 450 cities, BharatPe processes more than 500 million UPI transactions per month. It processes payments of a monthly Transaction Processed Value of Rs 12,000 crore.

BharatPe makes another management rejig across verticals

EntrackrEntrackr · 1y ago
BharatPe makes another management rejig across verticals
Medial

Fintech firm BharatPe is going through another transformation to strengthen the leadership team across three verticals, sources aware of the development told Entrackr. For the uninitiated, BharatPe runs three entities – Resilient Innovations Private Limited (merchant app), Resilient Payments Private Limited (Payment unit), and Resilient Digi Services Private Limited (lending unit). Sandeep Indurkar will now step up as the CEO of the payments vertical, one of the sources told Entrackr. Indurkar was earlier chief business officer of the banking vertical at the company. Also Read: BharatPe to launch new entity BharatPe Money for lending vertical As per sources, Kohinooor Biswas will now manage loyalty division Zillion (part of RDSPL) in addition to his existing responsibilities. “Rijish Raghavan, who was earlier acting as CEO of Zillion, will now head BharatPe’s device business,” added another source. Sources also further said that the trio will continue to report to Nalin Negi, the interim CEO of BharatPe. In a nutshell, Indurkar will be heading the payment unit (RPPL), Kohinoor will be heading RDSPL, and Nalin will continue to lead the merchant unit (RIPL). A BharatPe spokesperson confirmed the development but did not comment further. Amid high profile exits in 2023, BharatPe also announced key hirings during the last year. In July, it appointed Pankaj Goel as its chief technical officer (CTO). The company filled the position of CTO after a gap of seven months whereas its CFO Nalin Negi has been acting as an interim CEO since January last year. The new changes in leadership came soon after BharatPe completed its $100 million debt round from InnoVen Capital and Credit Saison. Entrackr exclusively reported the development in January. Financially, BharatPe is also getting back on track as the firm recorded its first profitable month in October 2023. The company claimed that its annualized revenue crossed Rs 1,500 crore, marking over 30% growth as compared to FY23. In FY23, it crossed Rs 1,000 crore revenue mark while its EBITDA loss went up 9% to Rs 772 crore.

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