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BharatPe launches all-in-one payment device BharatPe One

EntrackrEntrackr · 1y ago
BharatPe launches all-in-one payment device BharatPe One
Medial

Fintech firm BharatPe has launched BharatPe One, an all-in-one payment product that integrates PoS, QR, and speaker into one device. The product is designed to streamline transactions for merchants, offering various payment acceptance options including dynamic and static QR code, tap-and-pay and traditional card payment options, across a wide range of debit and credit cards. The company plans to launch the product in more than 100 cities in the first phase. It will further scale it to more than 450 cities over the course of the next 6 months. With real-time transaction updates and instant voice payment confirmation, BharatPe One offers a hassle-free experience for both merchants and customers. “…By combining multiple functionalities into one cost-effective device, we’re providing a comprehensive solution tailored to the varied needs of small and medium businesses across diverse sectors. BharatPe is a merchant-first company and this state-of-the-art device underscores our commitment to be a preferred partner for offline merchants, delivering value and empowering their business growth,” said Nalin Negi, CEO of BharatPe. BharatPe has a network of over 1.3 crore (13 million) merchants and is one of the leading players in UPI offline transactions, processing more than 370 million UPI transactions monthly. The firm further claimed that its swipe business processes payments of over Rs 29,000 crore annually on its machines. In the PoS, QR, and sound box device segment, BharatPe fiercely competes with Paytm, PhonePe and MobiKwik.

Related News

Infibeam Avenues launches CCAvenue SoundBox Max

EntrackrEntrackr · 10m 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.

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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