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Merchant-focused fintech BharatPe plans to triple its point of sale (PoS) business, BharatSwipe, and targets $6 billion in annualised transaction processed value (TPV) by the end of this fiscal year.
“We will be expanding our reach in the PoS business to 80 cities and deploy three lakh machines by the end of 2021-22. Additionally, we are exploring strategic partnerships with banks, financial institutions and brands with the objective of enhancing customer experience on our PoS devices,” said Suhail Sameer, Group President, BharatPe.
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“BharatPe, which is now the number three player in the private PoS category, will also ramp up its reach by five times,” the company said in a statement on Thursday, adding that it plans to ramp up brand partnerships and offer consumer credit to drive further value in the PoS business.
BharatSwipe was launched in the second half of 2020 and contributes 20 per cent to the overall payments TPV of the company.
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At present, there are over one lakh BharatSwipe machines installed across 16 cities in the country, which facilitate transactions exceeding ₹1,400 crore every month.
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