BharatPe - Revision history

TajWoolcock75: Content updated and refined

2025-11-19T04:14:03Z

Content updated and refined

Systumm: Infobox

2023-08-27T14:05:27Z

Infobox

← Older revision		Revision as of 19:35, 27 August 2023
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	{{Short description\|Indian ~~payment~~ service ~~provider~~}}		{{Short description\|Indian Financial Technology Company}}
			{{Infobox website
			\| name = BharatPe
			\| company_type = [[Privately held company\|Private]]
			\| founded = {{start date and age\|2018}}
			\| industry = [[Internet]]<br />[[E-commerce]]
			\| type = [[Financial service]]
			\| founder = Ashneer Grover<br>Shashvat Nakrani<br>Bhavik Koladiya
			\| location = [[New Delhi]]
			\| country = [[India]]
			\| area_served = India
			\| language = [[Multilingual]]
			\| registration = Required
			\| users =
			\| services = UPI payments and digital money lending for merchants
			\| net_income = {{INRconvert\|-828\|c}} (FY22)
			\| current_status = Active
			\| parent =
			\| subsidiaries =
			\| website = {{URL\|https://bharatpe.com/}}
			}}

	'''BharatPe''' is a fintech company that caters to the small merchants and [[kirana store]] owners of India.<ref>{{Cite web\|title=BharatPe all set to crack the merchant's code\|url=https://businessindia.co/magazine/bharatpe-all-set-to-crack-the-merchants-code\|access-date=2021-06-23\|website=businessindia.co\|language=en}}</ref> The company offers a range of fintech products including interoperable QR code for UPI payments, Bharat Swipe (POS machine) for card acceptance, and small business financing. It facilitates small merchants to accept payments via UPI ([[Unified Payments Interface]]) for free, through the BharatPe QR code. It also offers merchant loans of up to Rs. 7 lacs for a duration of 3 to 12 months. The other products include and a peer to peer lending product called 12% Club.<ref>{{Cite web\|title=BharatPe aims to disburse ₹1,000 crore in loans in next six months\|url=https://www.thehindubusinessline.com/money-and-banking/bharatpe-aims-to-disburse-1000-crore-in-loans-in-next-six-months/article32805521.ece\|access-date=2021-06-23\|website=@businessline\|language=en}}</ref> In 2020 they launched Digital Gold product for merchant <ref>{{Cite web\|date=2021-08-28\|title=STARTUP DIGEST: HC seeks govt reply on WhatsApp's plea on IT rules, BharatPe forays into P2P lending\|url=https://www.cnbctv18.com/startup/startup-digest-hc-seeks-govt-reply-on-whatsapps-plea-on-it-rules-bharatpe-forays-into-p2p-lending-china-plans-to-ban-us-ipo-tim-cook-gets-750-mn-payout-10525611.htm\|access-date=2021-09-04\|website=www.cnbctv18.com\|language=en}}</ref><ref>{{Cite web\|last=Bureau\|first=BW Online\|title=BharatPe Launches Brand Campaign with record 11 Cricket Stars as Brand Ambassadors\|url=http://businessworld.in/article/BharatPe-Launches-Brand-Campaign-with-record-11-Cricket-Stars-as-Brand-Ambassadors/10-10-2020-330003\|access-date=2021-09-26\|website=BW Businessworld\|language=en}}</ref>		'''BharatPe''' is a fintech company that caters to the small merchants and [[kirana store]] owners of India.<ref>{{Cite web\|title=BharatPe all set to crack the merchant's code\|url=https://businessindia.co/magazine/bharatpe-all-set-to-crack-the-merchants-code\|access-date=2021-06-23\|website=businessindia.co\|language=en}}</ref> The company offers a range of fintech products including interoperable QR code for UPI payments, Bharat Swipe (POS machine) for card acceptance, and small business financing. It facilitates small merchants to accept payments via UPI ([[Unified Payments Interface]]) for free, through the BharatPe QR code. It also offers merchant loans of up to Rs. 7 lacs for a duration of 3 to 12 months. The other products include and a peer to peer lending product called 12% Club.<ref>{{Cite web\|title=BharatPe aims to disburse ₹1,000 crore in loans in next six months\|url=https://www.thehindubusinessline.com/money-and-banking/bharatpe-aims-to-disburse-1000-crore-in-loans-in-next-six-months/article32805521.ece\|access-date=2021-06-23\|website=@businessline\|language=en}}</ref> In 2020 they launched Digital Gold product for merchant <ref>{{Cite web\|date=2021-08-28\|title=STARTUP DIGEST: HC seeks govt reply on WhatsApp's plea on IT rules, BharatPe forays into P2P lending\|url=https://www.cnbctv18.com/startup/startup-digest-hc-seeks-govt-reply-on-whatsapps-plea-on-it-rules-bharatpe-forays-into-p2p-lending-china-plans-to-ban-us-ipo-tim-cook-gets-750-mn-payout-10525611.htm\|access-date=2021-09-04\|website=www.cnbctv18.com\|language=en}}</ref><ref>{{Cite web\|last=Bureau\|first=BW Online\|title=BharatPe Launches Brand Campaign with record 11 Cricket Stars as Brand Ambassadors\|url=http://businessworld.in/article/BharatPe-Launches-Brand-Campaign-with-record-11-Cricket-Stars-as-Brand-Ambassadors/10-10-2020-330003\|access-date=2021-09-26\|website=BW Businessworld\|language=en}}</ref>

	== History ==		==History ==
	The firm was co-founded by Ashneer Grover and Shashvnat Nakrani in 2018, with its headquarters in New Delhi, India. In 2020, they signed cricketers [[Rohit Sharma]], Jasprit Bumrah, [[KL Rahul]], Mohammed Shami, [[Ravindra Jadeja]], [[Suresh Raina]], Shreyas Iyer, [[Prithvi Shaw]], Sanju Samson, Yuzvendra Chahal, and [[Shubman Gill\|Shubhman Gill]] were signed as BharatPe brand ambassadors <ref>{{Cite web\|last=Bureau\|first=BW Online\|title=BharatPe Launches Brand Campaign with record 11 Cricket Stars as Brand Ambassadors\|url=http://businessworld.in/article/BharatPe-Launches-Brand-Campaign-with-record-11-Cricket-Stars-as-Brand-Ambassadors/10-10-2020-330003\|access-date=2021-09-26\|website=BW Businessworld\|language=en}}</ref>. Later in 2020, they hired Suhail Sameer as the group president.<ref>{{Cite web\|title=BharatPe Appoints Ex – McKinsey Suhail Sameer as Group President\|url=http://bwpeople.businessworld.in/article/BharatPe-Appoints-Ex-McKinsey-Suhail-Sameer-as-Group-President-/13-08-2020-308196\|access-date=2021-10-05\|website=BW people\|language=en}}</ref> In June 2021, [[Reserve Bank of India]] (RBI) issued an In-principle approval to Centrum Financial Services Limited to establish a Small Finance Bank (SFB). with BharatPe.<ref>{{Cite news\|last=Mittal\|first=Apoorva\|title=BharatPe puts in joint bid to acquire PMC Bank\|work=The Economic Times\|url=https://economictimes.indiatimes.com/tech/startups/bharatpe-puts-in-joint-bid-to-acquire-pmc-bank-report/articleshow/80343036.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst\|access-date=2021-06-23}}</ref><ref>{{Cite web\|date=2021-06-21\|title=Centrum takeover of PMC Bank: What's in store for existing depositors\|url=https://indianexpress.com/article/explained/explained-pmc-bank-scam-centrum-money-7366292/\|access-date=2021-06-23\|website=The Indian Express\|language=en}}</ref> Till March 2021, It has expanded its network to 100 cities across India, including tier 2 and 3 cities. The new additions include cities of Guwahati, Vellore, Hosur, Nagpur, Raipur, Bilaspur, Bhubaneswar, tourist hubs like Pondicherry, Amritsar, Varanasi, and Agra.<ref>{{Cite web\|last=Writer\|first=Staff\|date=2021-03-10\|title=BharatPe expands to 100 cities in India\|url=https://www.livemint.com/companies/news/bharatpe-expands-to-an-additional-100-cities-in-india-11615363739171.html\|access-date=2021-09-26\|website=mint\|language=en}}</ref> In June 2021, They acquired PAYBACK India from American Express and ICICI Investments Strategic Fund. It did not disclose the transaction value.<ref>{{Cite web\|last=Bureau\|first=Our\|title=BharatPe acquires PAYBACK India\|url=https://www.thehindubusinessline.com/companies/bharatpe-acquires-payback-india/article34776942.ece\|access-date=2021-09-26\|website=@businessline\|language=en}}</ref> In August 2021, BharatPe changed its leadership and elevated Suhail Sameer as the CEO from group president and Ashneer Grover as the MD.<ref>{{Cite web\|last=Aug 14\|first=TIMESOFINDIA COM {{!}}\|last2=2020\|last3=Ist\|first3=15:49\|title=BharatPe appoints Suhail Sameer as group president - Times of India\|url=https://timesofindia.indiatimes.com/gadgets-news/bharatpe-appoints-suhail-sameer-as-group-president/articleshow/77543802.cms\|access-date=2021-09-26\|website=The Times of India\|language=en}}</ref><ref>{{Cite web\|last=Aug 14\|first=TIMESOFINDIA COM {{!}}\|last2=2020\|last3=Ist\|first3=15:49\|title=BharatPe appoints Suhail Sameer as group president - Times of India\|url=https://timesofindia.indiatimes.com/gadgets-news/bharatpe-appoints-suhail-sameer-as-group-president/articleshow/77543802.cms\|access-date=2021-09-26\|website=The Times of India\|language=en}}</ref>		The firm was co-founded by Ashneer Grover and Shashvnat Nakrani in 2018, with its headquarters in New Delhi, India. In 2020, they signed cricketers [[Rohit Sharma]], Jasprit Bumrah, [[KL Rahul]], Mohammed Shami, [[Ravindra Jadeja]], [[Suresh Raina]], Shreyas Iyer, [[Prithvi Shaw]], Sanju Samson, Yuzvendra Chahal, and [[Shubman Gill\|Shubhman Gill]] were signed as BharatPe brand ambassadors <ref>{{Cite web\|last=Bureau\|first=BW Online\|title=BharatPe Launches Brand Campaign with record 11 Cricket Stars as Brand Ambassadors\|url=http://businessworld.in/article/BharatPe-Launches-Brand-Campaign-with-record-11-Cricket-Stars-as-Brand-Ambassadors/10-10-2020-330003\|access-date=2021-09-26\|website=BW Businessworld\|language=en}}</ref>. Later in 2020, they hired Suhail Sameer as the group president.<ref>{{Cite web\|title=BharatPe Appoints Ex – McKinsey Suhail Sameer as Group President\|url=http://bwpeople.businessworld.in/article/BharatPe-Appoints-Ex-McKinsey-Suhail-Sameer-as-Group-President-/13-08-2020-308196\|access-date=2021-10-05\|website=BW people\|language=en}}</ref> In June 2021, [[Reserve Bank of India]] (RBI) issued an In-principle approval to Centrum Financial Services Limited to establish a Small Finance Bank (SFB). with BharatPe.<ref>{{Cite news\|last=Mittal\|first=Apoorva\|title=BharatPe puts in joint bid to acquire PMC Bank\|work=The Economic Times\|url=https://economictimes.indiatimes.com/tech/startups/bharatpe-puts-in-joint-bid-to-acquire-pmc-bank-report/articleshow/80343036.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst\|access-date=2021-06-23}}</ref><ref>{{Cite web\|date=2021-06-21\|title=Centrum takeover of PMC Bank: What's in store for existing depositors\|url=https://indianexpress.com/article/explained/explained-pmc-bank-scam-centrum-money-7366292/\|access-date=2021-06-23\|website=The Indian Express\|language=en}}</ref> Till March 2021, It has expanded its network to 100 cities across India, including tier 2 and 3 cities. The new additions include cities of Guwahati, Vellore, Hosur, Nagpur, Raipur, Bilaspur, Bhubaneswar, tourist hubs like Pondicherry, Amritsar, Varanasi, and Agra.<ref>{{Cite web\|last=Writer\|first=Staff\|date=2021-03-10\|title=BharatPe expands to 100 cities in India\|url=https://www.livemint.com/companies/news/bharatpe-expands-to-an-additional-100-cities-in-india-11615363739171.html\|access-date=2021-09-26\|website=mint\|language=en}}</ref> In June 2021, They acquired PAYBACK India from American Express and ICICI Investments Strategic Fund. It did not disclose the transaction value.<ref>{{Cite web\|last=Bureau\|first=Our\|title=BharatPe acquires PAYBACK India\|url=https://www.thehindubusinessline.com/companies/bharatpe-acquires-payback-india/article34776942.ece\|access-date=2021-09-26\|website=@businessline\|language=en}}</ref> In August 2021, BharatPe changed its leadership and elevated Suhail Sameer as the CEO from group president and Ashneer Grover as the MD.<ref>{{Cite web\|last=Aug 14\|first=TIMESOFINDIA COM {{!}}\|last2=2020\|last3=Ist\|first3=15:49\|title=BharatPe appoints Suhail Sameer as group president - Times of India\|url=https://timesofindia.indiatimes.com/gadgets-news/bharatpe-appoints-suhail-sameer-as-group-president/articleshow/77543802.cms\|access-date=2021-09-26\|website=The Times of India\|language=en}}</ref><ref>{{Cite web\|last=Aug 14\|first=TIMESOFINDIA COM {{!}}\|last2=2020\|last3=Ist\|first3=15:49\|title=BharatPe appoints Suhail Sameer as group president - Times of India\|url=https://timesofindia.indiatimes.com/gadgets-news/bharatpe-appoints-suhail-sameer-as-group-president/articleshow/77543802.cms\|access-date=2021-09-26\|website=The Times of India\|language=en}}</ref>
	== Controversies ==		==Controversies==
	BharatPe got into controversy when it tried to label other competitors like [[Paytm]] as not completely Indian companies because of ownership by companies that are not Indian while calling itself Nationalistic because of complete Indian ownership. The employees of the company distributed pamphlets with such information to compromise the reputation of competitors. [[Mint (newspaper)\|The Mint]] reported to have copies of such pamphlets and reported<ref name=":0" />		BharatPe got into controversy when it tried to label other competitors like [[Paytm]] as not completely Indian companies because of ownership by companies that are not Indian while calling itself Nationalistic because of complete Indian ownership. The employees of the company distributed pamphlets with such information to compromise the reputation of competitors. [[Mint (newspaper)\|The Mint]] reported to have copies of such pamphlets and reported<ref name=":0" />

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	The other controversy BharatPe was involved in was with another competitor [[PhonePe]] which is a consumer-focused payments firm but competes with BharatPe for merchant payments on UPI, when the two payment applications fought over the use of words 'Pe'. The matter is to be sought in the courts in July 2021.<ref>{{Cite news\|title=PhonePe's battle with BharatPe over suffix set for full trial in July\|work=The Economic Times\|url=https://economictimes.indiatimes.com/tech/startups/phonepes-battle-with-bharatpe-over-suffix-set-for-full-trial-in-july/articleshow/83242136.cms?from=mdr\|access-date=2021-07-10}}</ref>		The other controversy BharatPe was involved in was with another competitor [[PhonePe]] which is a consumer-focused payments firm but competes with BharatPe for merchant payments on UPI, when the two payment applications fought over the use of words 'Pe'. The matter is to be sought in the courts in July 2021.<ref>{{Cite news\|title=PhonePe's battle with BharatPe over suffix set for full trial in July\|work=The Economic Times\|url=https://economictimes.indiatimes.com/tech/startups/phonepes-battle-with-bharatpe-over-suffix-set-for-full-trial-in-july/articleshow/83242136.cms?from=mdr\|access-date=2021-07-10}}</ref>

	== References ==		==References==
	{{reflist}}		{{reflist}}

	[[Category:Financial services companies of India]]		[[Category:Financial services companies of India]]

>Roastthysoul at 10:47, 5 October 2021

2021-10-05T10:47:35Z

New page

{{Short description|Indian payment service provider}}

'''BharatPe''' is a fintech company that caters to the small merchants and [[kirana store]] owners of India.<ref>{{Cite web|title=BharatPe all set to crack the merchant's code|url=https://businessindia.co/magazine/bharatpe-all-set-to-crack-the-merchants-code|access-date=2021-06-23|website=businessindia.co|language=en}}</ref> The company offers a range of fintech products including interoperable QR code for UPI payments, Bharat Swipe (POS machine) for card acceptance, and small business financing. It facilitates small merchants to accept payments via UPI ([[Unified Payments Interface]]) for free, through the BharatPe QR code. It also offers merchant loans of up to Rs. 7 lacs for a duration of 3 to 12 months. The other products include and a peer to peer lending product called 12% Club.<ref>{{Cite web|title=BharatPe aims to disburse ₹1,000 crore in loans in next six months|url=https://www.thehindubusinessline.com/money-and-banking/bharatpe-aims-to-disburse-1000-crore-in-loans-in-next-six-months/article32805521.ece|access-date=2021-06-23|website=@businessline|language=en}}</ref> In 2020 they launched Digital Gold product for merchant <ref>{{Cite web|date=2021-08-28|title=STARTUP DIGEST: HC seeks govt reply on WhatsApp's plea on IT rules, BharatPe forays into P2P lending|url=https://www.cnbctv18.com/startup/startup-digest-hc-seeks-govt-reply-on-whatsapps-plea-on-it-rules-bharatpe-forays-into-p2p-lending-china-plans-to-ban-us-ipo-tim-cook-gets-750-mn-payout-10525611.htm|access-date=2021-09-04|website=www.cnbctv18.com|language=en}}</ref><ref>{{Cite web|last=Bureau|first=BW Online|title=BharatPe Launches Brand Campaign with record 11 Cricket Stars as Brand Ambassadors|url=http://businessworld.in/article/BharatPe-Launches-Brand-Campaign-with-record-11-Cricket-Stars-as-Brand-Ambassadors/10-10-2020-330003|access-date=2021-09-26|website=BW Businessworld|language=en}}</ref>

== History ==
The firm was co-founded by Ashneer Grover and Shashvnat Nakrani in 2018, with its headquarters in New Delhi, India. In 2020, they signed cricketers [[Rohit Sharma]], Jasprit Bumrah, [[KL Rahul]], Mohammed Shami, [[Ravindra Jadeja]], [[Suresh Raina]], Shreyas Iyer, [[Prithvi Shaw]], Sanju Samson, Yuzvendra Chahal, and [[Shubman Gill|Shubhman Gill]] were signed as BharatPe brand ambassadors <ref>{{Cite web|last=Bureau|first=BW Online|title=BharatPe Launches Brand Campaign with record 11 Cricket Stars as Brand Ambassadors|url=http://businessworld.in/article/BharatPe-Launches-Brand-Campaign-with-record-11-Cricket-Stars-as-Brand-Ambassadors/10-10-2020-330003|access-date=2021-09-26|website=BW Businessworld|language=en}}</ref>. Later in 2020, they hired Suhail Sameer as the group president.<ref>{{Cite web|title=BharatPe Appoints Ex – McKinsey Suhail Sameer as Group President|url=http://bwpeople.businessworld.in/article/BharatPe-Appoints-Ex-McKinsey-Suhail-Sameer-as-Group-President-/13-08-2020-308196|access-date=2021-10-05|website=BW people|language=en}}</ref> In June 2021, [[Reserve Bank of India]] (RBI) issued an In-principle approval to Centrum Financial Services Limited to establish a Small Finance Bank (SFB). with BharatPe.<ref>{{Cite news|last=Mittal|first=Apoorva|title=BharatPe puts in joint bid to acquire PMC Bank|work=The Economic Times|url=https://economictimes.indiatimes.com/tech/startups/bharatpe-puts-in-joint-bid-to-acquire-pmc-bank-report/articleshow/80343036.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst|access-date=2021-06-23}}</ref><ref>{{Cite web|date=2021-06-21|title=Centrum takeover of PMC Bank: What's in store for existing depositors|url=https://indianexpress.com/article/explained/explained-pmc-bank-scam-centrum-money-7366292/|access-date=2021-06-23|website=The Indian Express|language=en}}</ref> Till March 2021, It has expanded its network to 100 cities across India, including tier 2 and 3 cities. The new additions include cities of Guwahati, Vellore, Hosur, Nagpur, Raipur, Bilaspur, Bhubaneswar, tourist hubs like Pondicherry, Amritsar, Varanasi, and Agra.<ref>{{Cite web|last=Writer|first=Staff|date=2021-03-10|title=BharatPe expands to 100 cities in India|url=https://www.livemint.com/companies/news/bharatpe-expands-to-an-additional-100-cities-in-india-11615363739171.html|access-date=2021-09-26|website=mint|language=en}}</ref> In June 2021, They acquired PAYBACK India from American Express and ICICI Investments Strategic Fund. It did not disclose the transaction value.<ref>{{Cite web|last=Bureau|first=Our|title=BharatPe acquires PAYBACK India|url=https://www.thehindubusinessline.com/companies/bharatpe-acquires-payback-india/article34776942.ece|access-date=2021-09-26|website=@businessline|language=en}}</ref> In August 2021, BharatPe changed its leadership and elevated Suhail Sameer as the CEO from group president and Ashneer Grover as the MD.<ref>{{Cite web|last=Aug 14|first=TIMESOFINDIA COM {{!}}|last2=2020|last3=Ist|first3=15:49|title=BharatPe appoints Suhail Sameer as group president - Times of India|url=https://timesofindia.indiatimes.com/gadgets-news/bharatpe-appoints-suhail-sameer-as-group-president/articleshow/77543802.cms|access-date=2021-09-26|website=The Times of India|language=en}}</ref><ref>{{Cite web|last=Aug 14|first=TIMESOFINDIA COM {{!}}|last2=2020|last3=Ist|first3=15:49|title=BharatPe appoints Suhail Sameer as group president - Times of India|url=https://timesofindia.indiatimes.com/gadgets-news/bharatpe-appoints-suhail-sameer-as-group-president/articleshow/77543802.cms|access-date=2021-09-26|website=The Times of India|language=en}}</ref>
== Controversies ==
BharatPe got into controversy when it tried to label other competitors like [[Paytm]] as not completely Indian companies because of ownership by companies that are not Indian while calling itself Nationalistic because of complete Indian ownership. The employees of the company distributed pamphlets with such information to compromise the reputation of competitors. [[Mint (newspaper)|The Mint]] reported to have copies of such pamphlets and reported<ref name=":0" />

The competitors responded with law suits and also approached the Reserve Bank of India to stop such activities by BharatPe<ref>{{Cite web|last=Bhalla|first=Tarush|date=2020-09-01|title=BharatPe's taunts on nationalism irk rivals|url=https://www.livemint.com/technology/tech-news/digital-payment-firms-lock-horns-with-bharatpe-11598980420489.html|access-date=2021-06-23|website=mint|language=en}}</ref>The pamphlet distribution was also confirmed by Times of India. The same reported "''BharatPe's actions has incensed rivals, especially Paytm and PhonePe, as they compete more directly than others like Amazon and Google Pay.''"<ref name=":0">{{Cite web|last1=Sep 3|first1=Digbijay Mishra / TNN / Updated|last2=2020|last3=Ist|first3=16:01|title=BharatPe displays 'Indian' tag, dares Paytm, PhonePe - Times of India|url=https://timesofindia.indiatimes.com/business/india-business/bharatpe-displays-indian-tag-dares-paytm-phonepe/articleshow/77898318.cms|access-date=2021-07-10|website=The Times of India|language=en}}</ref>

The other controversy BharatPe was involved in was with another competitor [[PhonePe]] which is a consumer-focused payments firm but competes with BharatPe for merchant payments on UPI, when the two payment applications fought over the use of words 'Pe'. The matter is to be sought in the courts in July 2021.<ref>{{Cite news|title=PhonePe's battle with BharatPe over suffix set for full trial in July|work=The Economic Times|url=https://economictimes.indiatimes.com/tech/startups/phonepes-battle-with-bharatpe-over-suffix-set-for-full-trial-in-july/articleshow/83242136.cms?from=mdr|access-date=2021-07-10}}</ref>

== References ==
{{reflist}}

[[Category:Financial services companies of India]]