Mumbai, 05^th December, 2024: BharatPe App, India’s rapidly growing UPI payment service, has announced the launch of ‘Shield’, a comprehensive fraud protection plan aimed at safeguarding digital UPI transactions. Designed to provide users with a secure and worry-free payment experience, BharatPe Shield offers robust coverage and seamless support against digital fraud.

As part of the program, users making their first UPI transaction with the BharatPe App will receive 30 days of complementary fraud protection for amounts up to ₹5,000. Following this free period, users can continue the service at an affordable fee of ₹19 per month.

BharatPe Shield covers risks such as computer fraud, phishing attacks, and unauthorized transactions caused by phone loss. It also offers a pre-reporting period, enabling claims for losses incurred up to 10 days prior to reporting.

To enhance convenience, BharatPe Shield provides round-the-clock support via app, chatbot, and toll-free helplines for reporting fraud and raising claims. With this initiative, BharatPe reinforces its commitment to ensuring secure digital payments for its growing user base.

Commenting on the launch, Nalin Negi, Chief Executive Officer (CEO) of BharatPe, said, “Safeguarding consumer transactions from online frauds and providing a safe and secure payments ecosystem has always been one of our foremost responsibilities. With BharatPe Shield, we are going a step further by empowering our users with a fraud protection plan that secures their daily transactions. This initiative underscores our commitment to reimagining the secure UPI experience for our customers, making security the core of our offerings.”

BharatPe Shield not only provides peace of mind for consumers but also reflects the company’s dedication to fostering a trusted digital payment environment. BharatPe is continuously innovating to enhance security and convenience in the digital financial landscape.

Launched in August this year, BharatPe App’s UPI service caters to a wide range of payment use cases. The customers can use various features, including Scan and Pay, pay to self, pay to merchant, pay to bank, pay to UPI ID, bank transfer, check balance, collect authorization, raise collection request, and utility bill payments across a range of billers in prepaid, postpaid, gas, DTH, electricity bills, and insurance payments category.

Also, customers can buy gift vouchers at discounted prices from renowned offline and online brands across a range of categories including electronic, entertainment, fashion, food, travel, wellness etc. by using the BharatPe app.

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Mumbai, October 21, 2024: BharatPe Group, one of India’s leading names in the fintech industry, has partnered with nasscom foundation to empower women entrepreneurs across multiple districts in Maharashtra. Under the ‘Formal Registration and Digital Market Linkage Program for Women Entrepreneurs’, 1,500 rural women from six districts of Ahmednagar, Beed, Buldhana, Latur, Sindhudurg, and Kolhapur have been provided with the tools to formalize and scale their businesses, facilitating their integration into the formal economy. Additionally, 250 women out of the 1,500 were also provided with market linkages thereby increasing their business opportunities and financial stability. This initiative is poised to make a significant impact on the lives of rural women entrepreneurs by enhancing financial inclusion and enabling the growth of their businesses.

The initiative, launched under the aegis of ‘BharatPe Cares’, a corporate social responsibility initiative by BharatPe Group, is in sync with the brand’s purpose to empower lives through inclusive, innovative and reliable fintech solutions. The initiative rests under the CSR program of PAYBACK, a BharatPe company. The program is designed to support the formalization of MSME documentation and establish connections with the digital market for rural women entrepreneur-led enterprises. As a part of the program, individual women entrepreneurs from the Maharashtra State Rural Livelihood Mission (MSRLM) ecosystem were identified.  Local Resource Persons (LRPs) were trained on various government schemes as well as relevant formalization and market linkage solutions. The LRPs further conducted training sessions for rural women entrepreneurs and are expected to provide continuous support to enable their business growth. The participants got an understanding of FSSAI licenses, Udyam registration, and Shop Act registration, as well as gained market access through platforms like MSME Global Mart, GEM, UMEED Mart and ONDC.

Speaking on the partnership, Mr. Nalin Negi, CEO, BharatPe, said “We are delighted to partner with nasscom foundation to advance rural women entrepreneurship in Maharashtra. At BharatPe, we are dedicated to promoting financial inclusion and unlocking opportunities for women entrepreneurs across the country. Over the past few years, we have partnered with Women Entrepreneurship Platform to enable women entrepreneurs across India in their journeys of self-reliance and business growth. With this initiative, we have been able to reach out to the rural women entrepreneurs and empower them with the right solutions to formalize their business and expand it to newer markets, enabling their business growth. This partnership marks a pivotal step in BharatPe’s mission to drive inclusive financial empowerment across India. By partnering with nasscom foundation, we continue to contribute positively in further empowering women entrepreneurs, including the rural women, to reach their full potential and contribute to India’s growth story.”

Rostow Ravanan, Chairperson, nasscom foundation, added, “We are thrilled to partner with BharatPe to empower rural women entrepreneurs across Maharashtra by equipping them with the skills and resources needed to thrive in business. This initiative aligns perfectly with our commitment to create sustainable livelihoods and drive economic independence for women in rural areas. By providing essential training, digital market linkages, and access to government schemes, we have not only supported these women transition into formal businesses but also enabled them to unlock their full potential and build self-reliance.

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Bengaluru, August 28, 2024: BharatPe, India’s leading name in fintech, today announced its foray into consumer payments with the launch of its UPI TPAP (Third Party Application Provider) offering for millions of customers of Bharat. BharatPe also shared that it has rebranded postpe app to BharatPe. With this launch, BharatPe will be able to cater to millions of customers who use digital payments. Customers can create their UPI ID on the BharatPe app and make payments to individuals as well as merchants, and also pay a host of bills, directly through the BharatPe app. Customers can create their own handle with the extension @bpunity. The UPI TPAP is available on Play Store for all the Android users. The company has partnered with Unity Bank to enable TPAP.

BharatPe app caters to a wide range of payment use cases. The customers can use various features, including Scan and Pay, pay to self, pay to merchant, pay to bank, pay to UPI ID, bank transfer, check balance, collect authorization, raise collection request, and utility bill payments across a range of billers in prepaid, postpaid, gas, DTH, electricity bills, and insurance payments category. Also, customers can buy gift vouchers at discounted prices from renowned offline and online brands across a range of categories including electronic, entertainment, fashion, food, travel, wellness etc. by using the BharatPe app. The new BharatPe app also offers the UPI Lite feature, that enables customers to preload online wallet and make transactions of upto Rs. 500 across P2P and P2M transactions, without the need of using a UPI PIN.

Speaking on the launch, Mr. Nalin Negi, CEO, BharatPe said, “We are committed to building BharatPe as a preferred financial platform for customers and merchants across Bharat. Over the years, we have been able to empower over 1.3 Crores merchants with our innovative products across payments and credit. With our UPI TPAP, we aim to enable millions across Bharat to make seamless and secure UPI transactions, for their individual as well as business needs. The foray into the consumer payments category will help us to further propel adoption of digital payments and drive financial inclusion across the country.”

Added Nalin, “UPI has become ubiquitous to payments for millions and has witnessed exponential growth over the last few years. In our view, the next stage of growth for UPI will come from Bharat and hence, we have designed this app, keeping in mind the needs of the customers of Bharat. In the first phase of the launch, we have enabled the most widely used use cases on the BharatPe app. We are committed to delivering a secure and superlative experience to our customers and are optimistic that this app will resonate well with the customers across Bharat. This is the beginning of an exciting journey. In the coming months, we will be launching a portfolio of new features on our BharatPe app. We will also be launching the BharatPe app on the App store.”

Speaking on the launch, Kohinoor Biswas, Business Head- Consumer, BharatPe, “BharatPe has been one of the most prominent players in the merchant space, enabling them to accept UPI payments through BharatPe QR codes, soundboxes, and POS devices. Observing significant interest in the consumer payments product space, we wanted to introduce a UPI payment offering for consumers. This also enables to complete the cycle and offer both consumer and merchant payments. Rebranding our consumer app as BharatPe aligns with our goal of providing a unified brand and platform for both consumers and merchants. While we are not the first player in the country to launch TPAP, we have reimagined the app experience with a renewed emphasis on security, ensuring that trust remains at the core of our offerings.”

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Mumbai, India, August 20, 2024 – BharatPe, India’s leading name in the fintech industry, today announced its foray into facilitation of secured loans for merchant partners on its platform. The company has launched facilitation of two-wheeler loans and Loans Against Mutual Funds (LAMF) for its existing merchant partners in the first phase. BharatPe has partnered with OTO Capital, an emerging digital commerce and lending platform, for enabling two-wheeler loans.  Additionally, the company has partnered with Volt Money to facilitate Loans Against Mutual Funds to its merchant partners. The company plans to expand this to a multi-product and multi-lender offering in the next phase.

BharatPe’s merchants can now avail two-wheeler loans of up to Rs. 2.5 lacs, at competitive interest rates, for their next two-wheeler purchase from OTO Capital. The loan application process is 100% digital and merchants have the option to choose the repayment period between 12- 48 months. With the launch of Loans Against Mutual Funds (LAMF) in partnership with Volt Money, BharatPe’s merchants can also avail loan of up to Rs. 1 crore against Mutual Funds.

Speaking on the launch, Nalin Negi, CEO, BharatPe, said, “BharatPe started out in 2018 with the objective of empowering millions of offline merchants with new-age fintech products that deliver value to their businesses. In 2019, we ventured into the facilitation of unsecured loans with the motto of addressing the US$ 0.5 trillion MSME credit gap that has acted as a blocker to the growth of this industry. Over the course of the last few years, we have made great progress and have facilitated unsecured loans of over Rs. 15,000 crores to our merchant partners. I am excited about the launch of the secured loans offerings as this further bolsters the credit portfolio enabled by BharatPe and underscores our commitment to enable credit access to our merchants. I would like to thank OTO Capital and Volt Money for joining hands with us to enable credit for our 1.3 crore+ merchant partners.”

Added Nalin “The launch of secured loans for BharatPe’s merchant partners will open a new monetization channel for us and also help us drive engagement with our merchants, by offering them an extensive portfolio of loan options to choose from. In the coming months, we will be adding new products in the secured loans category so as to cater to a wide set of requirements. I am confident that secured loans will have a significant contribution to our overall revenue in the coming months. We stay committed to empowering our merchant partners and will continue to roll out disruptive products that are relevant for them.”

Speaking on the launch of two-wheeler loans, Sumit Chhazed, C.E.O, OTO Capital, said, “We believe in the power of mobility to transform lives. Our mission is to make two-wheeler ownership accessible and affordable for every aspiring entrepreneur in India. Together, we are committed to providing accessible mobility solutions that will help businesses thrive. Our partnership with BharatPe is rooted in our shared commitment to empowering India’s entrepreneurial spirit. Together, we’re building a future where every business has the opportunity to thrive.”

Speaking about the launch of loans against mutual funds, Bharat Lamba, Co-founder & CBO at Volt Money, “We cannot be more excited about this strategic partnership with BharatPe. As a company, we closely identify with BharatPe’s mission of financial inclusion for Indian merchants. By providing instant loans against Mutual funds, we are uniquely positioned to meet the short-term liquidity and working capital needs of MSMEs, thus enabling and empowering them financially. This collaboration represents a significant step forward in our commitment to providing low-cost 100% digital financing solutions to Indian businesses by unfurling them to BharatPe’s diverse large base of merchants.”

Both the two-wheeler loans and Loans Against Mutual Funds will be enabled on BharatPe platform. The loan disbursal and collections will be taken care of by the partner at their end. BharatPe is set to expand its offerings over the next three months, introducing a diverse range of products and lenders to meet the needs of merchants.

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Mumbai, November 28, 2023: BharatPe, one of India’s leading players in the fintech sector, today announced that it has turned EBITDA positive in October 2023. Additionally, it shared that its annualized revenue has surged past Rs. 1,500 Cr, a growth of 31% from FY23. This financial milestone is attributed to consistent growth across all its business lines. The company has also significantly cut down its EBITDA burn—which was averaging at Rs. 60 Cr per month in FY23—to attain EBITDA positivity. This significant milestone in conjunction with strong growth is a testament to the efforts of the team, enabled by strategic guidance from the Board. The company will continue taking strides toward being a market leading financial services platform for the 50 million small businesses across India.

The company has experienced consistent growth in its lending vertical over the past several months. In October, it facilitated loans exceeding Rs. 640 crores for its merchants in partnership with its NBFC partners, demonstrating a spike of 36% Y-o-Y. BharatPe has facilitated loans totaling over Rs. 12,400 crores since its foray into this segment in late 2019. Additionally, it recorded growth across verticals – including its payment products. The company also saw remarkable growth in the number and amount of transactions done on its soundbox devices. BharatPe, in October, also recorded a monthly TPV of over Rs. 14,000 crores across its diverse range of payment products.

Speaking on the milestone, Nalin Negi, CFO and Interim CEO, BharatPe, said, “BharatPe was started with the vision of empowering millions of offline merchants and MSMEs across the country, with best-in-class fintech products. This milestone reflects the trust bestowed upon us by our vast network of over 1.3 crores merchant partners. October was a great month for us- we achieved significant growth with loans facilitated on our platform. Also, our digital payments verticals grew considerably, boasting a monthly transaction count exceeding 37 crores. We will continue to cater to the needs of our merchant partners as well as customers and our strategic focus will be to ensure sustained profitability across our business lines. In the coming months, we’ll focus on scaling our lending, POS, and soundbox businesses. We will also focus on launching new products tailored for our merchant partners while concentrating on the development of our consumer and NBFC businesses.”

Added Nalin, “This achievement is a testament to the dedication and hard work of our team. I would like to congratulate each and every team member of BharatPe for achieving this milestone. Moving forward, we continue to stay committed to build a sustainable business with growth across business lines. We will continue to focus on driving financial inclusion across Bharat, empowering more offline merchant businesses. Our goal is to establish BharatPe as one of the largest merchant-first fintech companies in the country.”

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