In the lending vertical, BharatPe’s Merchant Lending division witnessed remarkable growth, with a 129% increase in loans facilitated (reaching Rs. 5,339 Cr), emphasizing BharatPe’s commitment to empowering merchants. BharatPe also introduced innovative revenue streams, including QR usage, credit card bill payments, and utility payments, showcasing dedication to innovation and diversification in its consumer business-postpe. On the other hand, Swipe business experienced a remarkable 63% increase in TPV, and the installation of approximately 8 lakh new soundbox devices in FY23 highlights BharatPe’s continuous efforts to expand its presence and drive financial inclusion as well as adoption of digital payments across the country.
Added Nalin, “Going forward, our strategic focus is on sustained profitability, scaling lending, POS, and soundbox businesses, and launching new merchant-centric products. We are committed to building a sustainable business, fostering financial inclusion, nurturing our partnerships and establishing BharatPe as a leading merchant-first fintech company in the country.”