BharatPe, India’s leading name in fintech industry, today announce the launch of its new Android Point of Sale (POS) terminal. Known as BharatPe Swipe Android, the device offers multiple modes for digital payment acceptance, including debit/credit cards, UPI, mobile wallets and QR code.
The company, which had launch Linux based POS devices in the year 2020, already has a network of over 2 lakh POS machines across 400+ cities in the country, and is one of the top 3 fintech players in the POS category.
BharatPe will give its merchants an option to upgrade from the Linux based POS to the new Android POS device.
Additionally, it plans to double its POS network count over the next 12 months, with the launch of BharatPe Swipe Android.
Powered by Android 10 operating system, the new device has a 5.5” HD touch screen and a long-lasting battery, supports fast charging, and is compatible with 4G and Wi-Fi for better connectivity.
Supported by the BharatPe merchant app, the POS solution offers a simple and intuitive interface with the convenience of instant settlements and single point reconciliation for transactions across BharatPe QR and BharatPe Swipe.
With BharatPe Swipe Android, merchants can also accept QR payments via dynamic QR generated on the machine, as well as generate physical receipts for the QR payments done.
The comprehensive merchant dashboard enables efficient management of transactions and settlements with a customizable view as per the requirement of the merchant.
Also, accepting payments through the POS machine enables the company to assess the merchant’s creditworthiness and facilitate business loans through its NBFC partners.
Nalin Negi, CFO & interim CEO, BharatPe, said :
Sandeep Indurkar, Chief Business Officer- Banking and Alliances, BharatPe said :
In the next phase of scale-up for its POS business, BharatPe plans to launch integrated inventory, billing and payment solutions that are customize for specific industry segments like restaurants and retail stores.
About BharatPe Group
BharatPe was founded in 2018 to make financial inclusion a reality for Indian merchants.
In 2018, BharatPe launched India’s first UPI interoperable QR code, the first zero MDR payment acceptance service. In 2020, post-Covid, BharatPe also launched a card acceptance terminal – BharatSwipe.
Currently serving 1 crore merchants across 400+ cities, the company is a leader in UPI offline transactions, processing 300 million+ UPI transactions per month (annualized Transaction Processed Value of over US$ 26 Bn in payments).
The company has already facilitated the disbursement of loans totaling INR 100B+. BharatPe’s POS business processes payments of over US$ 3.5 bn annually on its machines.
BharatPe has raised over US$ 583 million in equity till date.
The company’s list of marquee investors includes Tiger Global, Dragoneer Investment Group, Steadfast Capital, Coatue Management, Ribbit Capital, Insight Partners, Steadview Capital, Beenext, Amplo, and Sequoia Capital.
In June 2021, the company announced the acquisition of PAYBACK India (Rebranded to Zillion), the country’s largest multi-brand loyalty program company with 100 million+ members.
In October 2021, the consortium of Centrum Financial Services Limited (Centrum) and BharatPe, was issue a Small Finance Bank (SFB) license by the Reserve Bank of India (RBI).
BharatPe also entered the Buy Now Pay Later (BNPL) segment with the launch of postpe in October 2021.
Postpe has over 8 million downloads and an annualized TPV of close to INR 50B+.
In January 2023, BharatPe Group received an in-principle nod from the Reserve Bank of India (RBI) to operate as an online payment aggregator.
Recently, the company announced that it has acquired a majority stake in Trillion Loans, a renowned NBFC (Non- Banking Financial Company).