New Delhi [India], September 15 (ANI / NewsVoir): To keep up with its effort to empower small traders, BharatPe, India’s leading fintech firm for traders, has launched an innovative competition for its trading partners called “BharatPe Lagao, World Cup Jao “.
As part of the initiative, BharatPe offers its BharatPe QR merchants the opportunity to enjoy a fully paid 2-day trip to Dubai and cheer for India at the ICC Men’s T20 World Cup 2021. The company plans to reward its 400 best transaction traders across the country as part of this initiative. The competition will run in 140 cities where BharatPe is present in India. The contest ends on September 30, 2021.
The “BharatPe Lagao, World Cup Jao” contest includes three milestones based on the number of transactions or TPV on QR BharatPe. Merchants can reach milestone 1 when they complete 50 transactions or make transactions worth 25,000 rupees, milestone 2 when they complete 150 transactions or register 75,000 rupees in TPV, and milestone 3 when they complete 250 transactions or enter 125,000 rupees in TPV. Scratch cards can be used at any milestone and merchants can earn insured rides of up to 1000.
Merchants who complete Milestone 3 can get an all-inclusive Dubai package to see India play the ICC Men’s T20 World Cup. Contest winners will be decided via a lucky draw and announced in the first week of October 2021. Additionally, merchants can redeem rides for exciting BharatPe prizes / merchandise including an autographed miniature bat, an autographed life-size bat, a bounty free cap, cricket jersey, leather cricket ball, instant discount on refills / bill payments and get a chance to meet their favorite cricket stars.
Speaking on the campaign, Nishant Jain, Chief Business Officer, BharatPe, said, “Merchants are at the heart of everything we do. We are committed to our vision of empowering small merchants and kirana shop owners with the best fintech products they can. help grow their businesses. From time to time we launch innovative campaigns to reward our top merchants and further solidify our relationship with them. Earlier this year, we rewarded 673 merchants with top transactions in 10 emerging cities, in the 3 – Month-long Bonanza Festive Competition. Now, as companies prepare for the upcoming holiday season, we wanted to give our top performing traders the chance to watch India play live at the ICC Men’s T20 World Cup in the United Arab Emirates. We understand that cricket is one of the most popular sports in the country and “BharatPe Lagao, World Cup Jao” is designed to reward our top traders with a trip to Dubai. We are confident that this competition will allow us to further improve our business engagements. We hope to reach at least 5 million merchants with this initiative. We launch more innovative contests to empower and applaud our 7.5 million business partners in the times to come. “Currently, the competition is running in tier 1, 2 and 3 cities in India, including metropolitan cities such as Hyderabad, Bangalore, Delhi NCR, Mumbai, Kolkata and Chennai, as well as emerging cities such as Pune, Jaipur, Bhopal, Indore, Lucknow, Chandigarh, Ahmedabad etc. Also, he is alive in cities like Visakhapatnam, Vadodara, Warangal, Nagpur, Allahabad, Kanpur, Vijayawada, Aurangabad, Varanasi, Nashik, Dehradun, Kochi, Mangalore, Mysore, Agra, Ludhiana, Meerut, Surat, Jalandhar, Gorakhpur, Patna, Guwahati, Trivandrum, Bhubaneswar, Coimbatore and Madurai.
BharatPe has seen phenomenal growth in the last fiscal year, with the company seeing 5x growth in payments and 10x growth in lending business. Writing a new chapter in the history of the country’s digital India, BharatPe has rapidly expanded beyond the subways, intending to empower Bharat merchants with its secure and secure digital payment infrastructure and credit offerings. Recently, BharatPe joined the unicorn club with an E Series fundraiser of US $ 370 million with a valuation of US $ 2.85 billion. BharatPe is now among the top 5 most highly regarded Fintech start-ups in India and has one of the strongest capitalization tables for any start-up in India.
BharatPe was co-founded by Ashneer Grover and Shashvat Nakrani in 2018 with the goal of making financial inclusion a reality for Indian traders. In 2018, BharatPe launched India’s first UPI interoperable QR code, the first MDR-free payment acceptance service. In 2020, after COVID, BharatPe also launched India’s only terminal for accepting zero MDR cards: BharatSwipe. Currently serving over 75 lakh merchants in 140 cities, the company is a leader in offline UPI transactions, processing 11 crores of UPI transactions per month (annual transaction value of US $ 10 billion). The company has already facilitated the provision of loans totaling more than 1,800 crore of rupees to its merchants since launch. BharatPe’s POS business processes payments for over Rs. 1,400 crore / month. BharatPe has raised nearly $ 628 million in equity and debt to date.
The company’s list of key 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 June 2021, the Reserve Bank of India also received principle approval to establish a small financial bank, in partnership with Centrum Financial Services Limited (Centrum), the consolidated and profitable NBFC arm of the Centrum Group.
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