BharatPe Launches BharatPeX to Reinvent Enterprise Payments with AI and In-App UPI

BharatPe, India’s leading fintech company, today unveiled BharatPeX, its new PAPG-online brand that brings an ‘X-factor’ to how enterprises run payments. It combines a modern online payment gateway (Cards, Net Banking, UPI) with an implementation-first model that helps clients ship in-app UPI experiences faster, keep customer data within their own apps, and materially lift success rates.

Highlights

• More than a gateway, it's an implementation squad plus an AI layer that de-risks compliance, compresses go-live timelines to a third, and lifts success rates while keeping customer data with the merchant. That’s the X-factor.
• Next-gen payments stack. Built in Bharat, built for Bharat (and beyond): Full-stack collections and payouts designed for ecommerce, fintech, and enterprise scale.
• BharatPeX.AI — expertise on tap: A first-of-its-kind virtual assistant delivering instant answers, journey prototypes (e.g., UPI Autopay, UPI Circle, UPI International) and reusable sample code to accelerate builds.
• Compliance-first, bank-ready: Strong NPCI/bank navigation, secure-by-design architecture, and resilient rails powering reliable pay-ins, payouts, and BBPS.
• Own the UPI experience: Seamless UPI (in-app via UPI Plug-in or a TPAP pathway), plus Cards, Net Banking, Wallets, and Credit on UPI—all tuned for higher conversion.
• A dedicated triad for every client: Named Product, Tech, and Bank/NPCI points-of-contact partner end-to-end to make onboarding simple and integration effort ~1/3rd of typical cycles.

With technology and artificial intelligence at its core, the service comes bundled with BharatPeX.AI, which empowers enterprises with expertise on tap. The AI assistant provides clients with 24/7, consistent guidance on features, eligibility, and go-live steps across BharatPeX, NPCI, and partner banks. It also provides journey prototypes (e.g., UPI Autopay, UPI Circle, UPI International) and can generate sample code that teams can reuse.

Sandeep Indurkar, CEO – Payments, BharatPe, said, “Most enterprises want world-class payment systems but are wary of compliance, bank coordination, and long development cycles. With BharatPeX, we remove that friction. We don’t stop at an API—we deploy a specialist team and an AI-driven virtual assistant so our clients can enable UPI Plug-in or even scale to becoming TPAP-enabled—owning the user journey, the data, and the outcomes, which in turn lets them offer a seamless collections service and payment experience to their customers.” The company has already begun onboarding e-commerce, fintech, and enterprise clients in phases.

Designed to power growth at scale, BharatPeX combines collections, payouts, and enterprise-grade support into a single, secure platform, simplifying payments while multiplying impact. It promises outcome-oriented enablement, higher success rates, reduced go-to-market time, and data ownership for the merchant.

What makes BharatPeX different:

1. Payments expertise, not just a gateway: A dedicated (Product/Tech/Relationship) squad partners with each client to design, integrate, and scale collections and payouts. The team navigates NPCI processes and partner banks, simplifying onboarding and cutting implementation effort to roughly one-third of typical cycles.
2. In-app UPI at the core: While UPI already drives a large share of ecommerce transactions, most merchants still have to divert users to third party apps, losing visibility and control. BharatPeX helps clients run in-app UPI flows (via UPI Plug-in or TPAP), boosting success rates and ensuring customer data stays with the client.
3. Built for eCommerce, fintech, and enterprises: From checkout orchestration to complex payout needs, BharatPeX is designed for scale and governed by a compliance-first approach aligned to applicable RBI/NPCI guidelines.

With BharatPeX, BharatPe positions itself as the go-to partner for enterprises navigating the fast-evolving digital economy, reinforcing India’s place at the global forefront of payments innovation.

BharatPe is the only fintech company in India with an NBFC license (Trillion Loans), a stake in a Small Finance Bank (Unity SFB), and an Online Payment Aggregator license.

Why should merchants adopt BharatPeX?Command the user experience:

• Keep users in-app; reduce drop-offs and dependency on third-party apps
• Own the data: Maintain visibility on key customer markers to drive retention and LTV
• Ship faster: Cut integration effort to ~1/3rd with guided implementation and sample code
• Scale confidently: A single partner to handle tech, bank coordination, and compliance nuances
• Go beyond payments: Identify revenue opportunities tied to better payment experiences and customer delight

About BharatPeX:

BharatPeX is BharatPe’s online PAPG brand, purpose-built to bring the X-factor to enterprise payments by combining a full-stack gateway with hands-on implementation and AI-assisted expertise.

About BharatPe:

BharatPe (brand name of Resilient Innovations Pvt Ltd) was founded in 2018 to make financial inclusion a reality for Indian merchants. In 2018, it launched India’s first UPI interoperable QR code, the first zero MDR payment acceptance service. In 2020, post-Covid, BharatPe also launched a card acceptance terminal – BharatPe Swipe. Currently, with a registered network of over 1.7 crores merchants across 450+ cities, the company is one of the leading players in UPI offline transactions, processing 450 million+ UPI transactions per month. BharatPe processes payments of a monthly Transaction Processed Value of ₹12,000 crores. BharatPe Money (brand name of Resilient Digi Services Private Limited), a BharatPe Group Company, has already facilitated the disbursement of loans of over US$ 2 billion, in partnership with NBFCs. BharatPe’s POS business processes payments of over ₹27,000 crores annually on its 125,000+ machines.

Unity Bank & BharatPe Partner to Launch India’s 1st EMI-Driven Credit Card

• Unlimited 2% rewards (Zillion Coins) on all spends upon EMI conversion – no capping, no exclusions
• Truly lifetime free – zero joining fee, zero annual fee, zero processing fee, zero foreclosure charges
• Powered by RuPay, the credit card can be linked to UPI for payments across millions of merchants nationwide

BharatPe, India’s leading financial services and UPI payments company, today announced the launch of Unity Bank BharatPe Credit Card, in partnership with Unity Small Finance Bank (Unity Bank).

The Card brings industry-first features designed to make everyday payments including groceries, bill payments, travel, utilities, insurance premiums, and lifestyle spends, both online & offline, smarter and more rewarding. Offered on National Payments Corporation of India (NPCI) RuPay network, the card can be seamlessly linked to UPI, enabling secure and convenient payments across millions of merchants in India.

With a zero-fee structure, the card does away with all hidden costs. There are no joining charges, annual fees, processing charges, or foreclosure penalties. Customers also enjoy the flexibility to prepay their EMIs anytime without penalties, making credit access transparent and stress-free.

The card offers flexible EMI options of up to 12 months, helping customers manage big-ticket purchases with ease. What truly sets it apart is its unlimited flat 2% rewards (Zillion Coins) on every transaction upon EMI conversion, across all merchant categories and platforms, without restrictions. Zillion Coins can be redeemed via the BharatPe app for brand vouchers, products, or even to pay credit card bills. Additional lifestyle benefits include complimentary domestic and international lounge access and preventive health check-ups.

Kohinoor Biswas, Head – Consumer Business at BharatPe, said, “Our focus has always been to make access to credit simple, transparent, and inclusive. With the Unity Bank BharatPe Credit Card, customers get a truly lifetime free card with no hidden charges. Moreover, linking of RuPay Credit Card with UPI opens a multitude of convenient payment options for cardholders.The auto-EMI feature further empowers customers to manage their cash flows responsibly, helping them avoid revolving credit traps and high interest rates, typical of traditional cards. This launch reinforces our commitment to deliver accessible, innovative, and value-driven financial solutions for Indian consumers.”

Aditya Harkauli, Chief Business Officer - Digital Banking, Unity Bank, added, “Saying that balancing present & future financial flows is a daily challenge for many, is a truism. The Unity Bank BharatPe Credit Card aims to address this consumer need, by combining instant payments, meaningful credit limits, flexible ‘pay-as-you-use’ options and generous rewards — all on a single, digitally delivered, lifetime free card. Shaped by consumer and market insights & reflective of our endeavour to create functionally useful differentiation, this first of its kind credit card offers both, salaried & self- employed individuals, practical and transparent payment & credit choices.”

How to Apply for the Unity Bank BharatPe Credit Card in six easy steps?

• Download the BharatPe App
• Onboarding: Enter your phone number and PAN to start.
• Complete KYC: Finish your eKYC and VKYC.
• Eligibility Check: Your credit limit will be assigned based on the test results.
• Activate Your Card: Set your billing date and your card PIN.
• Start Using: Your Unity Bank BharatPe Credit Card will be ready for transactions once activated.

About Unity Small Finance Bank Limited:

Unity Small Finance Bank Limited is a Scheduled Commercial Bank, promoted by Centrum Financial Services Ltd. (Subsidiary of BSE & NSE listed – Centrum Capital Ltd.) with Resilient Innovations Pvt Ltd as a joint investor. Driven by its mission to have the highest standards of Corporate Governance, Unity Bank has in place a strong Board comprising of industry veterans. It offers services across Consumer Banking, Business Banking, Inclusive Banking, Digital Banking, SME & Transaction Banking and Treasury Services. The Bank endeavors to offer comprehensive banking services, along with ease of accessibility, reach and speed, using a combination of advanced technology and expert banking services for a superior customer experience.

About BharatPe:

BharatPe (brand name of Resilient Innovations Pvt Ltd) was founded in 2018 to make financial inclusion a reality for Indian merchants. In 2018, it launched India’s first UPI interoperable QR code, the first zero MDR payment acceptance service. In 2020, post-Covid, BharatPe also launched a card acceptance terminal – BharatPe Swipe. Currently, with a registered network of over 2.5 million merchants across 450+ cities, the company is one of the leading players in UPI offline transactions, processing 500 million+ UPI transactions per month.

BharatPe processes payments of a monthly Transaction Processed Value of ₹12,000 crores. BharatPe Money (brand name of Resilient Digi Services Private Limited), a BharatPe Group Company, has already facilitated the disbursement of loans of over US$ 2 billion, in partnership with NBFCs. Recently, the company also ventured into secured loans with the launch of two-wheeler loans, loans against mutual funds, home loans, and loan against property. BharatPe’s POS business processes payments of over ₹27,000 crores annually on its 125,000+ machines. BharatPe has raised over US$ 583 million in equity to date.The company’s list of marquee investors includes Peak XV Partners (formerly known as Sequoia Capital India), Ribbit Capital, Insight Partners, Amplo, Beenext, Coatue Management, Dragoneer Investment Group, Steadfast Capital, Steadview Capital, and Tiger Global.

In June 2021, the company announced the acquisition of PAYBACK India (rebranded to Zillion), the country’s largest multi-brand loyalty program company with 100 million+ members. In October 2021, the consortium of Centrum Financial Services Limited (Centrum) and BharatPe was issued a Small Finance Bank (SFB) license by the Reserve Bank of India (RBI). BharatPe also entered the consumer fintech segment with the launch of postpe in October 2021. In January 2023, Resilient Payments Pvt Ltd, a BharatPe Group Company, received an in-principle nod from the Reserve Bank of India (RBI) to operate as an online payment aggregator. In April 2023, BharatPe acquired a controlling stake in Trillionloans, a renowned NBFC (Non-Banking Financial Company) registered with RBI. In August 2024, the company rebranded the postpe app to BharatPe and ventured into the consumer payments space with the launch of its UPI TPAP. For more details, please visit www.bharatpe.com.

BharatPe Records 182% Growth in Revenue in FY23, EBITDA Loss Reduced by Rs 158 Cr

EBITDA loss also decreased by approximately Rs 158 crores

BharatPe, India’s leading name in fintech, today announced its financial performance for the fiscal year 2023, showcasing substantial growth and strategic advancements across key business segments. The fintech firm recorded 182% increase in revenue from operations in FY23, from Rs 321 Cr in FY22 to Rs 904 Cr in FY23. A significant progress was made in reducing loss before tax, plunging from Rs. 5,594 Cr to Rs 886 Cr. Additionally, the EBITDA loss also decreased by approximately Rs 158 Cr, showcasing focused efforts towards financial sustainability.

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.

Speaking on the milestone, Nalin Negi, CFO and Interim CEO, BharatPe, said, “We are thrilled to announce yet another year of exceptional performance at BharatPe. The significant growth across our business verticals, coupled with improved financial metrics, underscores our commitment to creating value for our merchants and stakeholders. These results are a testament to the hard work and dedication of our team, as well as the trust and support of our valued customers.”

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.”

About BharatPe Group

BharatPe was founded in 2018 to make financial inclusion a reality for Indian merchants. In 2018, BharatPe launched India’s first UPI interoperable QR code, the first zero MDR payment acceptance service. In 2020, post-Covid, BharatPe also launched a card acceptance terminal – BharatPe Swipe. Currently with a registered network of over 1.3 crore merchants across 450+ cities, the company is one of the leading players in UPI offline transactions, processing 370 million+ UPI transactions. The company processes payments of annualized Transaction Processed Value of over Rs. 1.7 Lac Crores. The company has already facilitated the disbursement of loans of over Rs. 12,400 crores, in partnership with NBFCs. BharatPe’s POS business processes payments of over Rs. 29,000 crores annually on its machines.

BharatPe has raised over US$ 583 million in equity till date. The company’s list of marquee investors includes Peak XV Partners (formerly known as Sequoia Capital India), Ribbit Capital, Insight Partners, Amplo, Beenext, Coatue Management,Dragoneer Investment Group, Steadfast Capital,Steadview Capital and Tiger Global. In June 2021, the company announced the acquisition of PAYBACK India (Rebranded to Zillion), the country’s largest multi-brand loyalty program company with 100 million+ members.

In October 2021, the consortium of Centrum Financial Services Limited (Centrum) and BharatPe, was issued a Small Finance Bank (SFB) license by the Reserve Bank of India (RBI). BharatPe also entered the Buy Now Pay Later (BNPL) segment with the launch of postpe in October 2021. postpe has over 15 million downloads. In January 2023, BharatPe Group received an in-principle nod from the Reserve Bank of India (RBI) to operate as an online payment aggregator. BharatPe is also a promoter in TrillionLoans, a renowned NBFC (Non- Banking Financial Company).

 

BharatPe Launches BharatPe Swipe Android Machine for Merchants: Plans to Double Its PoS Network Over the Next 12 Months

BharatPe to add new features to BharatPe Swipe Android in the coming months

BharatPe, India’s leading name in fintech industry, today announced the launch of its new Android Point of Sale (POS) terminal. Known as BharatPe Swipe Android, the device offers multiple modes for digital payment acceptance, including debit/credit cards, UPI, mobile wallets and QR code. The company, which had launched Linux based POS devices in the year 2020, already has a network of over 2 lakh POS machines across 400+ cities in the country, and is one of the top 3 fintech players in the POS category. BharatPe will give its merchants an option to upgrade from the Linux based POS to the new Android POS device. Additionally, it plans to double its POS network count over the next 12 months, with the launch of BharatPe Swipe Android.

Powered by Android 10 operating system, the new device has a 5.5” HD touch screen and a long-lasting battery, supports fast charging, and is compatible with 4G and Wi-Fi for better connectivity. Supported by the BharatPe merchant app, the POS solution offers a simple and intuitive interface with the convenience of instant settlements and single point reconciliation for transactions across BharatPe QR and BharatPe Swipe.

BharatPe Swipe Android

With BharatPe Swipe Android, merchants can also accept QR payments via dynamic QR generated on the machine, as well as generate physical receipts for the QR payments done. The comprehensive merchant dashboard enables efficient management of transactions and settlements with a customizable view as per the requirement of the merchant. Also, accepting payments through the POS machine enables the company to assess the merchant’s creditworthiness and facilitate business loans through its NBFC partners.

Commenting on the launch, Nalin Negi, CFO & interim CEO, BharatPe, said, “Through its robust fintech ecosystem for offline merchants, BharatPe has brought millions of small businesses and retailers under the fold of the digital economy. The latest addition to our product suite, BharatPe Swipe Android, is a powerful yet simple-to-use device that will further enable our merchants to offer their customers a seamless and secure payment experience. It aims to cater to a wide range of merchants across segments including the small merchants, from a neighborhood kirana store to a fine dine restaurant or a supermarket chain. We are confident that with this new POS we will be able to offer a superlative experience to our merchant partners and in turn, help them further grow their business.”

Sandeep Indurkar, Chief Business Officer- Banking and Alliances, BharatPe, added, “The infrastructure for various payment acceptance offerings including point of sales (PoS) has been growing not only in metros and tier 1 cities, but also in tier 2 and 3 cities. We are bullish about our growth in the POS category with the launch of BharatPe Swipe Android devices. In the coming months, we will be launching a pathbreaking POS device along with offerings like pay later EMIs, Digital Receipts and sound notifications that will scale up payment acceptance for millions of offline merchants and kirana store owners. This will further enable our merchants to deliver customer delight and in turn, strengthen their businesses. We stay committed to empower our 10 million+ merchant community and be an important part of their growth story.”

In the next phase of scale-up for its POS business, BharatPe plans to launch integrated inventory, billing and payment solutions that are customized for specific industry segments like restaurants and retail stores.

About BharatPe Group

BharatPe was founded in 2018 to make financial inclusion a reality for Indian merchants. In 2018, BharatPe launched India’s first UPI interoperable QR code, the first zero MDR payment acceptance service. In 2020, post-Covid, BharatPe also launched a card acceptance terminal – BharatSwipe. Currently serving 1 crore merchants across 400+ cities, the company is a leader in UPI offline transactions, processing 300 million+ UPI transactions per month (annualized Transaction Processed Value of over US$ 26 Bn in payments). The company has already facilitated the disbursement of loans totaling INR 100B+.

BharatPe’s POS business processes payments of over US$ 3.5 bn annually on its machines. BharatPe has raised over US$ 583 million in equity till date. The company’s list of marquee investors includes Tiger Global, Dragoneer Investment Group, Steadfast Capital, Coatue Management, Ribbit Capital, Insight Partners, Steadview Capital, Beenext, Amplo, and Sequoia Capital. In June 2021, the company announced the acquisition of PAYBACK India (Rebranded to Zillion), the country’s largest multi-brand loyalty program company with 100 million+ members.

In October 2021, the consortium of Centrum Financial Services Limited (Centrum) and BharatPe, was issued a Small Finance Bank (SFB) license by the Reserve Bank of India (RBI). BharatPe also entered the Buy Now Pay Later (BNPL) segment with the launch of postpe in October 2021. postpe has over 8 million downloads and an annualized TPV of close to INR 50B+. In January 2023, BharatPe Group received an in-principle nod from the Reserve Bank of India (RBI) to operate as an online payment aggregator. Recently, the company announced that it has acquired a majority stake in Trillion Loans, a renowned NBFC (Non- Banking Financial Company)

BharatPe Group Appoints Pankaj Goel as CTO

Pankaj is a seasoned engineering leader with close to 3 decades of experience

Prior to joining BharatPe, Pankaj was the Head of Payments Engineering at Razorpay

BharatPe Group, India’s leading name in the fintech ecosystem, has announced the appointment of Pankaj Goel as the Chief Technology Officer. Pankaj is a seasoned engineering leader with nearly three decades of experience in technology and engineering roles. Prior to joining BharatPe, Pankaj was the Head of Payments Engineering at Razorpay. Pankaj will be reporting to Nalin Negi, Chief Financial Officer and interim CEO, BharatPe. Pankaj will be leading the technology team at BharatPe Group and spearheading the technology and innovation strategy across the Group of companies.

During his career, Pankaj has demonstrated a remarkable ability to build and manage technology functions at scale, catering to consumers, as well as enterprises of varied sizes. Pankaj's expertise lies in the fintech domain, where he possesses deep engineering knowledge and significant industry experience. In his last stint at Razorpay where he spent 4.5 years, Pankaj established a robust engineering organization that achieved remarkable growth, supporting the company's expansion from $1 billion to $100 billion TPV. Prior to Razorpay, Pankaj held leadership positions at renowned companies such as Intuit, Trilogy, and Sun Microsystems. Pankaj holds a Bachelors of Technology degree in Electronics and Communications from National Institute of Technology, Warangal. Additionally, he also pursued Executive MBA in General Management from Indian Institute of Management, Bangalore. Pankaj also recently completed a PG program in cloud computing from the University of Texas.

Commenting on the appointment, Nalin Negi, CFO and interim CEO, BharatPe said, "Technology is the backbone of our business and we stand committed to innovate and build disruptive fintech products that are market-first and relevant, as we expand our footprint to newer domains. With a seasoned engineering leader like Pankaj joining the team, we are confident that we will be able to build best-in-class fintech products that will further enable the next level of growth for the BharatPe Group of Companies. Pankaj’s phenomenal work during his rich career of close to 30 years is a testament of his strategic vision, managerial acumen, and ability to drive business growth through technology. I welcome Pankaj to the leadership team and look forward to working with him to build new-age products for millions of merchants and consumers. I am confident that under his able leadership, we will build the best technology team in Indian fintech ecosystem.”

Pankaj Goel, Chief Technology Officer, BharatPe Group, added, “Since its inception, BharatPe has leveraged technology to build disruptive and first-of-its-kind of products that have empowered millions of businesses across the country- from India’s first interoperable UPI QR with zero transaction fees, to its 100% digital lending product. The company has also made a mark in the consumer fintech space with postpe which was a great success from its early days. I am thrilled to be a part of BharatPe Group, as it focusses on building a portfolio of fintech products for a wider set of merchants and consumers. As digital becomes more mainstream, I believe there is a huge opportunity for fintech companies to enable the next level of growth story for merchants as well as make an impactful contribution to the overall India growth story. I am hoping that we will deliver impactful solutions that will enable us to not only solve existing problems, but also help us stay ahead of the curve in a rapidly evolving fintech landscape.”

About BharatPe Group

BharatPe was founded in 2018 to make financial inclusion a reality for Indian merchants. In 2018, BharatPe launched India’s first UPI interoperable QR code, the first zero MDR payment acceptance service. In 2020, post-Covid, BharatPe also launched a card acceptance terminal – BharatSwipe. Currently serving 1 crore merchants across 400+ cities, the company is a leader in UPI offline transactions, processing 300 million+ UPI transactions per month (annualized Transaction Processed Value of over US$ 24 Bn in payments). The company has already facilitated the disbursement of loans totaling INR 100B+. BharatPe’s POS business processes payments of over US$ 3.5 bn annually on its machines. BharatPe has raised over US$ 583 million in equity till date. The company’s list of marquee investors includes Tiger Global, Dragoneer Investment Group, Steadfast Capital, Coatue Management, Ribbit Capital, Insight Partners, Steadview Capital, Beenext, Amplo, and Sequoia Capital. In June 2021, the company announced the acquisition of PAYBACK India (Rebranded to Zillion), the country’s largest multi-brand loyalty program company with 100 million+ members. In October 2021, the consortium of Centrum Financial Services Limited (Centrum) and BharatPe, was issued a Small Finance Bank (SFB) license by the Reserve Bank of India (RBI). BharatPe also entered the Buy Now Pay Later (BNPL) segment with the launch of postpe in October 2021. postpe has over 8 million downloads and an annualized TPV of close to INR 50B+. In January 2023, BharatPe Group received an in-principle nod from the Reserve Bank of India (RBI) to operate as an online payment aggregator. Recently, the company announced that it has acquired a majority stake in Trillion Loans, a renowned NBFC (Non- Banking Financial Company). 

BharatPe Acquires 51% Stake in Trillion Loans, a Mumbai-based NBFC

Appoints Ravindra Pandey, Nalin Negi and Sabyasachi Senapati on the Board of the NBFC

Trillion Loans to operate as an independent entity and explore partnerships with other fintech companies

BharatPe Group, India’s leading name in fintech, today announced that it has completed its acquisition of a majority stake in Trillion Loans, a renowned NBFC (Non-Banking Financial Company) based out of Mumbai. The deal was completed in the month of April. This acquisition is in line with BharatPe Group’s vision to be at the forefront of addressing the credit gap for millions of businesses and consumers in the country. BharatPe shared that Ravindra Pandey, Nalin Negi and Sabyasachi Senapati have been appointed on the Board of Trillion Loans.

Trillion Loans will operate as an independent entity with its own team under the supervision of the Board. It will explore partnerships with other fintech firms and other companies to enable credit across a diverse set of businesses and consumers. BharatPe has also infused a substantial amount of investment into Trillion Loans to enable the NBFC to grow its loan book.

Trillion Loans is a fast-growing NBFC that offers a range of secured and unsecured loans to SMEs, including small business loans as well as working capital loans. Additionally, the company also offers a range of products for consumers, such as auto, gold, and education loans.

Commenting on the acquisition, Shashvat Nakrani, Founder and COO, BharatPe said, “We had launched our merchant lending vertical in 2019 and it has grown exponentially over the course of the last 3+ years. Today, we facilitate loans of over Rs. 500 crores every month to our merchant partners. Providing access to credit to our merchant partners is key to our business model, and this acquisition will further propel our growth and accelerate our journey to profitability. Acquiring controlling stake in Trillion Loans is aligned to the BharatPe Group’s larger purpose and will enable us to facilitate access to capital to a wider set of underserved and unbanked businesses as well as customers. Trillion Loans will work independently and will be technology-driven NBFC. It will be open to partner with other fintechs and startups, so as to offer their customers a quick and streamlined experience. BharatPe values its existing partnerships with NBFCs and financial institutions and this acquisition will have no impact on these relationships.”

Added Shashvat, “BharatPe will bring in the product and technology capabilities that will further empower Trillion Loans to launch new and path-breaking digital lending products that will cater to a diverse set of business owners and customers. I believe that there is a huge opportunity for Trillion Loans to further grow and address the close to US$ 380 billion MSME credit gap as well as meet the diverse consumer credit demand in the country that has the largest youth population in the world. I would like to welcome the Trillion Loans team to the BharatPe family.”

Ravindra Pandey is a veteran in the financial services industry. A senior banker, he was superannuated recently after a stellar career spanning 37 years with the State Bank of India. Mr. Pandey has served on the Board of several large and highly reputed organizations. He was Director of the Board at Yes Bank, National Payments Corporation of India (NPCI), NPCI International, NPCI Bharat BillPay Ltd, SBI Payments and C-EDGE Technologies Ltd. In addition, he was a permanent invitee to the Board and other Board level committees of the State Bank of India. Nalin Negi is the CFO and interim CEO of BharatPe. Sabyasachi Senapati is currently a part of the leadership team at BharatPe and heads their banking vertical.

About BharatPe Group

BharatPe was founded in 2018 to make financial inclusion a reality for Indian merchants. In 2018, BharatPe launched India’s first UPI interoperable QR code, the first zero MDR payment acceptance service. In 2020, post-Covid, BharatPe also launched a card acceptance terminal – BharatSwipe. Currently serving 1 crore merchants across 400+ cities, the company is a leader in UPI offline transactions, processing 30 crores+ UPI transactions per month (annualized Transaction Processed Value of over US$ 24 Bn in payments).

The company has already facilitated the disbursement of loans totaling close to ₹8000 crores. BharatPe’s POS business processes payments of over US$ 3.5 bn annually on its machines. BharatPe has raised over US$ 583 million in equity till date. The company’s list of marquee investors includes Tiger Global, Dragoneer Investment Group, Steadfast Capital, Coatue Management, Ribbit Capital, Insight Partners, Steadview Capital, Beenext, Amplo, and Sequoia Capital. In June 2021, the company announced the acquisition of PAYBACK India, the country’s largest multi-brand loyalty program company with 100 million+ members.

In October 2021, the consortium of Centrum Financial Services Limited (Centrum) and BharatPe, was issued a Small Finance Bank (SFB) license by the Reserve Bank of India (RBI). BharatPe also entered the Buy Now Pay Later (BNPL) segment with the launch of postpe in October 2021. postpe has over 8 million downloads and an annualized TPV of close to Rs. 5000 crores. Recently, BharatPe Group received an in-principle nod from the Reserve Bank of India (RBI) to operate as an online payment aggregator.

BharatPe Group Appoints Former SBI Cards Exec Aparna Kuppuswamy as Chief Risk Officer

Seasoned leader with close to 3 decades of experience in consumer banking

Ex SBI Cards senior executive joins the leadership team at BharatPe

BharatPe Group today announced a new addition to its leadership team with the appointment of Aparna Kuppuswamy as its Chief Risk Officer. A seasoned leader with almost 3 decades of experience in the Consumer Banking Industry with extensive expertise in managing portfolios across all major product lines including credit cards, mortgages, and unsecured personal loans. Aparna will be leading the risk portfolio across the BharatPe Group of companies, including the merchant and consumer businesses. She will be working closely with the CFO and interim CEO, Nalin Negi, to further build a robust lending vertical at BharatPe.

Aparna is one of the highly respectable professionals in the banking and financial services industry. Prior to joining BharatPe, Aparna was the Chief Risk Officer at SBI Cards for 14+ years, where she led a number of key projects. Under her able leadership, the company’s portfolio grew by more than 20X. She was also a part of the leadership team that took SBI Cards public. Aparna managed the entire spectrum of risks facing the company in a fast changing and unpredictable environment. She also defined the risk appetite framework for the company in partnership with frontline business and operational groups as well as working closely with the Risk Management Committee of the Board. She also ensured that Credit, Operational, Fraud, Regulatory and Information security risks are defined, measured, reported, and monitored closely. Aparna also managed the Technology Risk function through the CISO organization by managing the physical and cyber security policies and practices. She also worked extensively on improving the security architecture and posture of the company. 

Prior to working with SBI Cards, Aparna was Director, Credit Policy, at Ameriprise Financial. She has also held leadership roles at ABN AMRO Bank and Bank of America. Aparna is a Masters in Finance & Control from the University of Delhi.

Commenting on the appointment, Nalin Negi, CFO and interim CEO, BharatPe said, “At BharatPe, we are committed to addressing the US$ 380bn credit gap for MSMEs and small merchants. In the coming months, we will aggressively focus on building the lending business across Bharat as well as roll out a range of credit products for our merchant partners and consumers. Aparna with her in-depth understanding of all facets of risk strategy, credit policy and portfolio management, as well as extensive industry and product knowledge, will play a vital role in the next phase of our growth story as well as helping us in becoming IPO ready.

Additionally, Aparna’s understanding of the consumer side of financial services will help us build cutting-edge products that are not only relevant, but also are risk aversive. Lastly, her expertise in managing the technology risk will ensure we build highly secure products for our merchant partners and consumers. On behalf of the leadership team at BharatPe, I would like to extend a very warm welcome to Aparna.”

Amit Jain, who is currently the Chief Risk Officer of BharatPe will be working closely with Aparna and will be investing more of his time on collections and underwriting, from a merchant standpoint.

Added Aparna, “BharatPe’s success story in the fintech industry is a case study in itself. In just 4+ years, the company has emerged as one of the biggest flag bearers of digital payments and B2B lending in the country. Today, it has an entrenched network of over 1 crore merchants in 400+ cities. The company has also done phenomenal work in facilitating credit to merchants – with over Rs. 8000 crores worth of loans facilitated to lakhs of merchants across the country. I am really excited to be a part of the promising organization and spearhead the risk and credit strategy for the BharatPe Group of companies. I look forward to working with the team to build new products, that will make a huge impact on millions of unbanked and underserved businesses and play a key role in making India a truly Digital economy.”

About BharatPe

BharatPe was founded in 2018 to make financial inclusion a reality for Indian merchants. In 2018, BharatPe launched India’s first UPI interoperable QR code, the first zero MDR payment acceptance service. In 2020, post-Covid, BharatPe also launched a card acceptance terminal – BharatSwipe. Currently serving 1 crore merchants across 400+ cities, the company is a leader in UPI offline transactions, processing 30 crores+ UPI transactions per month (annualized Transaction Processed Value of over US$ 24 Bn in payments). The company has already facilitated the disbursement of loans totaling close to ₹8000 crores. BharatPe’s POS business processes payments of over US$ 3.5 bn annually on its machines. BharatPe has raised over US$ 583 million in equity till date. The company’s list of marquee investors includes Tiger Global, Dragoneer Investment Group, Steadfast Capital, Coatue Management, Ribbit Capital, Insight Partners, Steadview Capital, Beenext, Amplo, and Sequoia Capital. In June 2021, the company announced the acquisition of PAYBACK India, the country’s largest multi-brand loyalty program company with 100 million+ members. In October 2021, the consortium of Centrum Financial Services Limited (Centrum) and BharatPe, was issued a Small Finance Bank (SFB) license by the Reserve Bank of India (RBI). BharatPe also entered the Buy Now Pay Later (BNPL) segment with the launch of postpe in October 2021. postpe has over 8 million downloads and an annualized TPV of close to Rs. 5000 crores. Recently, BharatPe Group received an in-principle nod from the Reserve Bank of India (RBI) to operate as an online payment aggregator.

Bharatpe Expands to 400 Cities Across India; Reaches All-time High of $20 Bn in Annualized Payments TPV

Strengthens its reach in tier-3/4 towns and cities in the country

BharatPe, India’s leading fintech company for merchants, today announced that it has expanded its footprint to 400 towns and cities across India. The expansion is in line with the company’s commitment to driving financial inclusion across Bharat by enabling wider adoption of digital payments as well as addressing the credit gap for SMEs and offline retailers. The company also shared that it has recorded consistent growth in payments TPV and has recently achieved the milestone of US$ 20 bn in annualized TPV.

Last year, BharatPe had announced that it aims to scale its presence to 300 cities by March 2023. The company has aggressively expanded to tier-2, 3 and 4 towns and cities since then, as it believed in the opportunity that tier-2 and beyond towns and cities of the country had to offer. The company has rolled out its UPI QR payment acceptance service and loans to merchant partners in the new cities in the first phase. BharatPe also plans to top up these services with other fintech products like BharatSwipe in the second phase over the coming months.

Commenting on the company’s expansion, Nishant Jain, Chief Business Officer, BharatPe, said, “In line with our endeavour to drive financial inclusion amongst the unbanked and the underserved merchants of Bharat, BharatPe has been expanding its reach and taking UPI QR to tier-2, 3 and 4 towns and cities of the country since 2020. Last year, we had set a target of expanding our footprint to 300 cities by March 2023. I am happy to share that we have not only been able to achieve this milestone much ahead of time, but also surpassed it by a mile. This is a great motivation for a brand like ours that is built on the ethos of empowering MSMEs, offline merchants and kirana store owners of the country who we believe are the key growth drivers of the economy.”

Added Nishant, “We stay committed to building Digital India and are working aggressively to take digital payments to the merchants of Bharat. We are seeing steady growth in digital payments. Our annualised TPV in payments has reached US$ 20 billion recently, up from US$18.5 bn in June end. With the wide expansion across the length and breadth of Bharat, I am confident that we will witness continued growth and will easily surpass our target of US$ 30 bn in payments by March 2023. I am a firm believer of the fact that the next stage of growth for our business will be driven by tier-2, 3 and 4 towns and cities and hence, we will continue to focus on enabling credit for merchants in these areas as well as build new-age fintech products that can further empower their growth story.”

BharatPe has been on an exponential growth trajectory and recently closed one of its highest growth quarters. It facilitated over INR 3600 Cr in loans in Q1, FY23; recording a staggering growth of 112% over the last quarter (Q4, FY22). The company facilitated disbursals to over 1.2 lac merchants in Q1, FY23, up from 66,000 merchants in the last quarter of FY22. BharatPe also hit an all-time high of US$ 18.5 bn in annualized TPV in the quarter. The company also recorded consistent growth in its other business lines including card acceptance POS businesses (BharatSwipe) and its Investment Platform for merchants (growth of over 30% vs. the last quarter).

BharatPe was founded in 2018 with the vision of making financial inclusion a reality for Indian merchants. In 2018, BharatPe launched India’s first UPI interoperable QR code, the first zero MDR payment acceptance service.

In 2020, post-Covid, BharatPe also launched India’s only zero MDR card acceptance terminals – BharatSwipe. Currently serving 1 crore merchants across 400 cities, the company is a leader in UPI offline transactions, processing 18 crores+ UPI transactions per month (annualized Transaction Processed Value of US$ 20 Bn in annualised payments).

The company has already facilitated disbursement of loans totalling to over ₹7500 crores to over 400,000 merchants, since launch. BharatPe’s POS business processes payments of over US$ 4 bn annually on its POS machines. It has a network of 1.25 lac+ machines across cities. BharatPe has raised over US$ 650 million in equity and debt, till date. The company’s list of marquee investors includes Tiger Global, Dragoneer Investment Group, Steadfast Capital, Coatue Management, Ribbit Capital, Insight Partners, Steadview Capital, Beenext, Amplo and Sequoia Capital. In June 2021, the company announced the acquisition of PAYBACK India, the country’s largest multi-brand loyalty program company with 100 million+ members.

In October 2021, the consortium of Centrum Financial Services Limited (Centrum) and BharatPe, was issued a Small Finance Bank (SFB) license by the Reserve Bank of India (RBI). BharatPe also made its entry in the Buy Now Pay Later segment with the launch of postpe in October 2021.

BharatPe Ex Chief Business Officer Pratekk Agarwaal Joins Decentro as an Investor & Advisor

Pratekk Agarwaal brings a decade long experience from the financial world, and will help accelerate new category penetrations as a new member of the advisory council.

India, August 12, 2021: Decentro, one of India’s leading API banking platforms, is pleased to announce that it has added Pratekk Agarwaal to its growing list of advisory council members. He will support Decentro with strategic advice on expanding alliances with fintechs, banks, NBFCs and insurtech companies that are looking to embed API Banking workflows. He is also an angel investor at Decentro and will help them with his deep network in multiple spaces - Financial Services , Payments , Insurance , Lending, FMCG , Marketplaces and more for faster penetration.

Pratekk brings 18 years of multi industry experience in building a successful business from scratch with a strong focus on financial services. He has previously worked with India’s leading fintech and NBFCs including BharatPe, Bajaj Finserve, Fullerton , IndoStar Capital , and ftcash. He has recently founded, Trutes Advisors, a boutique business advisory firm, that helps Startup Founders & NBFCs with a range of operations from sharpening business models to hiring the right talent.

Commenting on the latest workforce development, Rohit Taneja, Founder & CEO, Decentro, says, “Really happy to have Pratekk joining us on this mission to help both the new age companies as well as existing financial institutions get access to banking APIs in a fully democratic way at 1/10th the cost and time as compared to the alternative. At Decentro, we really value people with entrepreneurial experiences that bring along a holistic view of the landscape. We are expanding our modular product line to provide a seamless infrastructure for co-branded cards, and embedded finance to various companies across the country.”

“I have been closely monitoring Decentro and have been fascinated by its growth in a span of just 12 months as well as its potential to bring digital transformation for financial products with lower operational expenses and faster go to market timelines. The team has a great combination of high-paced execution abilities and the product is powerful and unique in terms of its plug and play approach that I have seen first hand on the customer front. I look forward to working with the Founder’s and unlocking the immense value potential with them for their journey over the many years and decades to come across India and beyond as well,” says Pratekk Agarwaal

Decentro has grown its customer base by 5X in the past 7 months since January and its transactional volume has grown exponentially by more than 100X over the last 12 months since its first product launch in July 2020. The company is processing more than 4.5 million API hits now per month and is looking to augment its current workforce of 22, for additional positions across engineering, compliance, and bank partnerships in the current financial year.

Decentro recently announced a strategic partnership with Quickwork, bringing together two new and exciting domains, BaaS and iPaaS for the first time in India. This integration reduces manual data entry, increases productivity, and provides access to banking flows for small and non-tech companies in various processes like KYC & Onboarding, Virtual Accounts for Money Collection, Automated Payouts, Credit Bureau checks and many more.

About Decentro: Decentro is a full-stack API banking platform where you can come, select your desired modules, integrate in the sandbox, and launch a product with just a few lines of code in a couple of weeks! Not only that, but the platform also takes care of all upcoming fixes, iterations, and updates without breaking any flow. Decentro raised its first round of funding in May 2020, followed by this larger one in October 2020, just a few weeks out of the latest fully digital batch of Y Combinator S20. The company recently received a raise of their follow-on capital that added to their seed round of funding.

Fintech Platform BharatPe Opens Its Research Lab 'BharatX'; Launches Internship Program with 1 Lac/Mth Stipend

B2B payments Firm. BharatPe, that is making 'UPI' Payment as universally​ accepted payment method at offline merchants, has launched BharatX -- its research lab, to promote the development and experimenting of radical ideas to solve the next set of merchant and business challenges with innovative product solutions.

With the research lab, BharatPe wants to ensure financial inclusion of over 60 million small and medium merchants in India.

Bharat X will focus on cutting-edge research across the fields of Artificial Intelligence (AI), Human Computer Interaction (HCI), Data Science, Financial Services, Modeling and several other areas.

Besides this, the fintech firm has also launched an internship program for the students who have graduated in year 2020 from the 14 selected U.S. Universities and have been adversely impacted by the COVID lockdown or work visa related changes introduced by the government of the US.

The internship, which has duration from 3 to 6 months, has stipend of INR 100,000 per month. Stpident will be paid to anyone who is eligible to work in India. Though, currently only Indian citizens can work without any work visa in India.

BharatPe Internship is open in fields including AI/ML, Augmented Reality, Human Computer Interaction, Credit Risk Modeling, Financial Services, Marketing, Strategy etc.

Mastercard Picks BharatPe for its Start Path Program

Mastercard has selected BharatPe for its Start Path program. Part of the Mastercard Accelerate global initiative, Start Path has a portfolio of 220 startups since its founding in 2014 and hand-picks approximately 40 startups from a pool of 1,500 applicants annually. BharatPe, along with six other tech startups, will get an opportunity to learn from and integrate with Mastercard’s network of experts, customers and partners.

BharatPe was Co-founded by Ashneer Grover and Shashvat Nakrani in 2018. By making payments, lending, deposits and other financial services omnipresent at the grassroot level, BharatPe endeavours to make financial inclusion a reality for the 20 million+ small merchants in India.



Earlier this year, the Govt. of India (MeiTY) also awarded BharatPe for Innovation in Digital Payments. Processing over 12 lakh transactions daily, BharatPe is allowing its 25 lakh+ merchant base to accept transactions for free on UPI. Bharat Peprocesses transaction value of more than Rs. 15,000 crores annually and has grown 20x in 2019.

Ashneer Grover, CEO and Co-founder of BharatPe, said, “We're excited to partner with Mastercard through their Start Path Programme. We look forward to collaborating with Mastercard and its global partners to deliver transformative solutions for our merchants in India.”

“Innovation is at the heart of Mastercard’s 50-year history, and the cutting-edge technology being pioneered by BharatPe aligns to the innovative, value-driven approach we take to our solutions and services,” said Amy Neale, Vice President and Global Lead for Mastercard Start Path. “The newest Start Path companies will be connected to our global ecosystem and together we’ll partner to deliver transformative solutions.”

Start Path invites later-stage startups to participate in a six-month virtual program, providing opportunities to scale and secure strategic investment. In addition to support from Mastercard, the startups also gain knowledge from the company’s global network of experts, customers and partners. The Start Path program helps emerging tech startups formulate the next generation of business solutions.

Bharat Pe is the only company from India selected by Mastercard as part of the latest cohort. The six other start-ups picked are from US, Indonesia, Israel and Kenya and are functioning in categories like e-commerce, cybersecurity, digital payment solutions, and artificial intelligence.

Payment firm Bharatpe Appoints Former IKEA Marketing Leader as its Marketing Head

Delhi-based BharatPe, a fintech startup serving the offline retailers and businesses through UPI payments, lending, and other financial services, has announced the appointment of Abhishek Shah as the Marketing Head. In his previous roles, Abhishek played an instrumental role in building IKEA’s India setup and it’s launch last year.

Speaking on the announcement, Ashneer Grover, Co-founder of BharatPe said, “We are delighted to welcome Abhishek to team BharatPe. As we continue to ease business for small merchants in India, he will provide the creative vision for our growth and together, we shall strive to create the largest network of small merchants in India."

“In the past few months, we have onboard over 8,00,000 merchants, and we are aiming to enable over 10 million merchants over the next two years. Abhishek's entrepreneurial mindset and a deep understanding of the industry will be instrumental in leading this growth. His first task would be the launch of high decibel campaign with Salman Khan,” Ashneer added.

[caption id="attachment_131031" align="alignleft" width="339"] Abhishek Shah, Chief Marketing Officer at Bharatpe[/caption]Abhishek Shah has an extensive experience in building and growing brands and comes with a deep knowledge of consumer insights and triggers. Previously, Abhishek has worked with category leader brands like IKEA, IPL franchises and Tata Group among others across business and marketing roles.

Commenting on his appointment, Abhishek Shah, Chief Marketing Officer at Bharatpe said, “Being in the industry, I have been observing the growth trajectory of BharatPe. Working towards transforming and strengthening India's digital payment ecosystem, and it is a privilege to receive an opportunity to work with the team here, to bridge the gap between digital disruption and consumer engagement to build BharatPe.

In April, BharatPe had raised $15.5 million in series A round of funding from Insight Partners and existing investors, Sequoia and Beenext.

So far, BharatPe has raised a total of $17.5 million in three rounds. The $15.5 million Series A funding raised by the company is the highest Series A funding in Indian startup Industry till now.

Founded in last year, by Ashneer Grover and Shashvat Nakrani, BharatPe has established operations in 13 cities, serving over 8 Lakh merchants across Bangalore, Delhi, Hyderabad, Pune, Mumbai, Jaipur, Ahmedabad, Indore, Bhopal, Nagpur, Chandigarh, Mysore, and Visakhapatnam. The company is on track to serve over 25 Lakh merchants on its network by the end of 2019.

Payment Startup BharatPe Raises $15.5 Mn from Insight Partners, Sequoia and Beenext

Delhi-based Resilient Innovations Pvt. Ltd, which owns and operates payment tech startup BharatPe, has raised $15.5 million (about Rs 106.7 crore) in series A round of funding from Insight Partners, an American venture capital and private equity firm, along with contribution from existing investors, Sequoia and Singapore-based VC firm, Beenext.

The fund raised will be utilized by BharatPe in scaling its operations and empowering millions of merchants with UPI payment within the next two years.

The funding came within a couple of months after BharatPe had raised nearly $17 million (about Rs 120 crore) from Sequoia Capital India, valuing the payments startup at $60-65 million. Prior to that in October last year, it raised $2 million in seed funding from Sequoia Capital India and Beenext.

With latest fund infusion, BharatPe has raised a total of $33 million in funding over three rounds, according to www.indianweb2.com estimates.

Founded in 2018 by Ashneer Grover and Shashvat Nakrani, is a B2B payments company enabling universal 'UPI'​ acceptance at offline merchants. Unified Payments Interface (UPI) is an immediate real-time payment system that helps in instantly transferring the funds between the two bank accounts through a mobile platform.

Currently with over 6 lakh merchants in India, the startup is operating in 11 cities - Hyderabad, Bengaluru, Delhi, Pune, Mumbai, Ahmedabad, Indore, Bhopal, Nagpur, Chandigarh and Jaipur.

To recall, last month leading payments startup MSwipe Technologies has raised Rs 219.8 crore from US-based hedge fund Falcon Edge, B Capital Asia, Epiq Capital and DSG Consumer Partners. At the same time it was also reported that another leading Indian online payments startup Razorpay is in advanced discussions with Silicon Valley-based venture capital firm Sequoia Capital to raise $75-100 million in new funding,

QR Code-based Payment App BharatPe to Raise $17 Mn from Sequoia India

In one of the largest Series A round of funding in Indian Startup Ecosystem, Bangalore-based BharatPe is in the final stages of raising nearly $17 million (about Rs 120 crore) from investors led by Sequoia Capital India, valuing
the payments startup at $60-65 million, reported Economic Times.

Founded in April 2018, by former CFO of Grofers, Ashneer Grover (IIT Delhi 2004), and Shashvat Nakrani, BhratPe is a QR code-based payment app building the largest offline merchant network in India by making mobile payments acceptance free and ubiquitous.

BharatPe empower the merchants to accept UPI payments for ‘FREE’ through the BharatPe QR. Merchants can sign up instantly and start receiving the funds immediately in their bank account. BharatPe makes payment acceptance simple by offering merchants a single interface for all UPI apps such as PayTM, PhonePe, Google Pay, BHIM, Mobikwik, Freecharge, True Caller and 100 other UPI apps. 

"BharatPe is a fin-tech company and not a re-seller. We are not an aggregator or payment gateway in the traditional sense. BharatPe works closely with our partner banks to develop custom APIs to enable an extremely simple product for the merchants. Our QR technology and deep integration at the bank end is our secret sauce," says the company website.

In February last year, ICICI Bank acquired a minority stake in payment startup, Tapits Technologies, a Mumbai-based early stage startup that helps merchants accept digital payments through Aadhaar biometrics.

In May last year, another new payment startup, ToneTag, had raised $8-10 million from a clutch of marquee, strategic investors led by Amazon Inc. and Mastercard,. ToneTag uses encrypted sound waves to make offline, proximity-based contact-less payments on any device.

In June, Chennai-based Hip Bar raised Rs 27 crore from alcoholic beverages company, United Spirits Ltd (USL). Hip Bar claims to be India's first drinks delivery app with an RBI-approved mobile wallet that enables customers browse adult beverages, order them and have them home-delivered.