BharatPe launches POS solution with no charges for merchants

Wednesday 24 June 2020 13:29 CET | News

India-based QR code payments company BharatPe has rolled out a POS solution without charges for merchants.

According to Entrackr, the company joined incumbents that have already launched their POS offerings, such as Pine Labs, Mswipe, Innoviti, Jio, PhonePe, and Paytm. Moreover, BharatPe’s POS solution, called Bharat Swipe, has already been deployed at almost 1,000 merchants, enabling them to make QR code-based payments. Besides, the company has raised USD 140 million from marquee investors including Ribbit Capital, Insight Partners, Sequoia Capital, and Steadview.

The roll out comes at a time when POS businesses are facing sudden changes due to the COVID-19 crisis, as companies like Mswipe had fired a large number of employees. 

Overall, until January 2020, around 4.94 million total POS machines were deployed, however, the entry of Paytm and BharatPe might increase competition for the incumbents and change these numbers in the future.

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Keywords: BharatPe, QR code, launch, mobile payments, POS, point of sale, India, incumbents, Pine Labs, Mswipe, Innoviti, Jio, PhonePe, Paytm, Bharat Swipe, merchants, marquee investors, Ribbit Capital, Insight Partners, Sequoia Capital, Steadview. Mswipe
Categories: Payments & Commerce
Countries: India
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