BharatPe ramps up POS business by 25X, fastest-ever scale up

BharatPe, fintech company for merchants, today announced that it has ramped up the reach of its point-of-sale (POS) business (BharatSwipe) by 25X to over 250 cities in the last 12 months. 

Since the launch of its POS business in the second half of 2020, the company has deployed more than 1.25 lakh BharatSwipe machines across offline shops. 

"Achieving this rare feat in a short span of close to 1.5 years, BharatPe has scripted history as the fastest-ever scale-up on POS business in India," the company claimed in an official statement. 

Suhail Sameer, CEO, BharatPe, said, “BharatSwipe has been the biggest growth story in India’s POS industry- from making a humble beginning with 10 cities in the middle of COVID in 2020, to processing $4 bn payments annually today.”

“We were able to take POS to several small merchants in last-mile areas with low digital penetration like Alappuzha, Azamgarh and Chalisgaon. In fact, over 60% of our merchants are first time POS users,” Sameer added. 

In August last year, BharatPe had announced partnership with Axis Bank. As a part of this, Axis Bank became the acquiring bank for BharatPe’s point of sale (POS) business, BharatSwipe, and enabled the acceptance of credit and debit cards for merchants associated with BharatPe, the company wrote. 

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