BharatPe, India’s largest merchant payment and lending network company, has introduced two new products in its app for merchants. With ‘Paisa Bolega’ –voice alerts of transactions, shopkeepers will be able to hear aloud instant confirmation of all payments received through their BharatPe QR, without even touching the phone. ‘BharatPe Balance’ reflects the total money available to the shopkeeper across deposits, loans and daily collections through QR.
BharatPe has been a leader in offering simple solutions for shopkeeper’s business needs. During the lockdown, the company has seen business per merchant go up significantly as both customers and shopkeepers prefer contactless QR payments. Average ticket size has gone up 70% from Rs 300 to Rs 500 as customer shop more for essentials, albeit less frequently.
‘Paisa Bolega’ is a button introduced in BharatPe App. This converts the shopkeeper’s smartphone into a loud speaker – announcing the value of transaction received. This does away the need for the merchant to check his phone repeatedly to see if money has come in. No need to maintain any additional device.
‘BharatPe Balance’ feature gives a single snapshot of the shopkeeper’s daily QR collections, balance in 12% interest a/c & the loan limit. This gives the shopkeeper single snapshot of his business and capital available to him.
Mr.Ashneer Grover, CEO & Co-Founder, BharatPe, said: “We believe in offering solutions that are affordable and easy to use. Our new instant voice alerts on transaction product (‘Paisa Bolega’) is free, compared to a competing payment player who is giving Chinese speaker devices to do the same voice alerts and is charging hundreds of rupees from merchants for it.”
“BharatPe is all about Indian software ingenuity over Chinese hardware. Shopkeeper’s phone is all the hardware that he actually needs and is more capable than all PoS devices combined,” Ashneer added.
About Bharat Pe
BharatPe was co-founded by Ashneer Grover and Shashvat Nakrani in 2018 with the vision to make financial inclusion a reality for Indian merchants. BharatPe launched India’s first UPI interoperable QR code, first ZERO MDR payment acceptance service, first UPI payment backed merchant cash advance product, and the only P2P NBFC investment product offering merchants up to 12% interest. Currently serving over 40 lakh merchants across Bangalore, Delhi, Hyderabad, Pune, Mumbai, Jaipur, Ahmedabad, Indore, Bhopal, Nagpur, Chandigarh, Jodhpur, Ludhiana, Surat, Patna, Karimnagar, Mysore, Visakhapatnam, Vijayawada, and Warangal. The company has grown business 30x in 2019 and is the leader in UPI offline, processing 5 crore+ UPI transactions a month (annualized TPV of US$ 2.7 Bn). The company has already disbursed more than 25,000 loans (Rs 150 crores +).