BharatPe recorded the fastest ever scale up on POS in the industry. BharatPe’s POS business has grown to US$ 2bn annualized transaction value in just 3 months post the launch. The company’s POS business contributes to 25% of the annualized transaction value. BharatSwipe is available in 10+ cities of the country and plans to ramp it up to 40 cities by the end of the current fiscal year. It has set a target of US$ 5bn POS annualized transaction value from the POS business by end of FY21.
BharatSwipe, the POS machine from BharatPe launched in the second half of 2020 is India’s first zero rental card machine that offers the merchants the option for zero transaction charges. It allows the merchants to accept payments from a range of credit and debit cards. Additionally, the merchant can generate receipts for both card and QR transactions. BharatSwipe has received an overwhelming response from small merchants across industries including Kirana store owners, restaurant owners as well as entrepreneurs with 4-5 outlets.