How BharatPe Revolutionise Payments

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The company plans to launch the product in over 100 cities in the first phase and further scale it to more than 450 cities over the next six months….reports Asian Lite news

Fintech company BharatPe on Tuesday launched India’s first all-in-one payment product that incorporates POS (point of sale), QR, and speaker into a single device.

Called BharatPe One, the product is designed to streamline transactions for merchants, offering versatile payment acceptance options including dynamic and static QR code, tap-and-pay and traditional card payment options.

The company plans to launch the product in over 100 cities in the first phase and further scale it to more than 450 cities over the next six months.

“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,” Nalin Negi, CEO, BharatPe, said in a statement.

As per the company, the device offers a smooth and hassle-free experience for both merchants and customers alike.

It comes equipped with a high-definition touchscreen display, 4G and Wi-Fi connectivity, and is powered by the latest Android operating system. It delivers improved performance and security, the company said.

“We have received an overwhelming response from our merchants in the pilot phase and we reckon that this will be another game changer for the digital payments ecosystem, further consolidating our position as a trailblazer in the fintech industry,” said Rijish Raghavan, Chief Business Officer – PoS Solutions, BharatPe.

Meanwhile, BharatPe on Tuesday announced the elevation of Nalin Negi as its Chief Executive Officer (CEO).

Under him as an interim CEO and CFO, BharatPe recorded 182 per cent increase in revenue from operations in FY23 and clocked October as the first EBITDA positive month.

BharatPe said it will now search for a new CFO.

“Negi’s extensive experience in the fintech industry and the growth witnessed for BharatPe under his leadership, makes him a natural choice to lead the company,” said Rajnish Kumar, Chairman of the Board, BharatPe.

Negi joined BharatPe in 2022. As the CEO, he will focus on leading the company into its next phase of development, driving innovation to empower merchants across the country.

“Going forward, our strategic focus will be on sustained profitability, scaling lending businesses, and launching new merchant-centric products,” said Negi.

“We are committed to building on the strong foundation, fostering financial inclusion and delivering value to our merchants, partners, and stakeholders,” he added.

Prior to joining BharatPe, he held senior leadership positions at financial service companies including SBI Cards and GE Capital.

BharatPe has an entrenched network of over 1.3 crore merchants across more than 450 cities, and is one of the leading players in UPI offline transactions, processing over 370 million UPI transactions.

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