New Delhi [India], September 15 (ANI/NewsVoir): Keeping up with its endeavour to empower small merchants, BharatPe, India's leading fintech Company for merchants, has rolled out an innovative contest for its merchant partners called 'BharatPe Lagao, World Cup Jao'.
As a part of the initiative, BharatPe is giving its BharatPe QR merchants, an opportunity to enjoy a 2-days, all-expenses paid trip to Dubai and cheer for India at the ICC Men's T20 World Cup 2021. The company plans to reward its 400 top transacting merchants across the country, as a part of this initiative. The contest will be live across 140+ cities where BharatPe has a presence in India. The contest ends on September 30, 2021.
The 'BharatPe Lagao, World Cup Jao' contest includes three milestones based on number of transactions or TPV on the BharatPe QR. Merchants can reach Milestone 1 when they complete 50 transactions or do transactions worth Rs. 25,000, Milestone 2 when they complete 150 transactions or record Rs. 75,000 in TPV and Milestone 3 when they complete 250 transactions or clock Rs. 125,000 in TPV. Scratch cards can be availed at each milestone and the merchants can earn assured runs of upto 1000.
The merchants who complete Milestone 3 can get an all-inclusive package to Dubai to watch India play the ICC Men's T20 World Cup. The winners of the contest will be decided via a lucky draw and announced in the first week of October 2021. Additionally, merchants can redeem runs for exciting rewards/BharatPe merchandise including an autographed miniature bat, an autographed full-size bat, a free size cap, cricket jersey, leather cricket ball, instant discount on recharges/ bill payments and get a chance to meet their favorite cricket stars.
Speaking about the campaign, Nishant Jain, Chief Business Officer, BharatPe, said, "Merchants are at the core of everything we do. We are committed to our vision of empowering small merchants and kirana store owners with best-in-class fintech products that can aid the growth of their businesses. We roll out innovative campaigns from time to time to reward our top transacting merchants and further nurture our relationship with them. Earlier this year, we had rewarded 673 top transacting merchants across 10 emerging cities, in the 3- month long Festive Bonanza contest. Now, as businesses get ready for the upcoming festive season, we wanted to give our top performing merchants a chance to watch India play live at the ICC Men's T20 World Cup in the UAE. We understand that cricket is one of the most popular sport in the country and 'BharatPe Lagao, World Cup Jao' is designed to reward our top merchants with trip to Dubai. We are confident that this contest will enable us to further enhance our merchant engagements. We hope to touch atleast 5 million merchants with this initiative. We will be rolling out more innovative contests to empower and applaud our 7.5 million merchant partners in the times to come."
Currently, the contest is live across tier-1, 2 and 3 cities in India, including metro cities like Hyderabad, Bangalore, Delhi NCR, Mumbai, Kolkata and Chennai; as well as emerging cities like Pune, Jaipur, Bhopal, Indore, Lucknow, Chandigarh, Ahmedabad etc. Also, it is live 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 witnessed a phenomenal growth over the last fiscal year, with the company witnessing a 5x growth in payments and a 10x growth in lending business. Scripting a new chapter in the country's Digital India story, BharatPe has been rapidly expanding beyond metros, intending to empower merchants in Bharat with its safe and secure digital payment infrastructure as well as its credit offerings. Recently, BharatPe forayed into the unicorn club with Series E fund raise of US$ 370 mn at a valuation of US$ 2.85 bn. BharatPe is now amongst the Top 5 most valued Fintech start-ups in India, and has one of the strongest cap tables for any start-up in India.
BharatPe was Co-founded by Ashneer Grover and Shashvat Nakrani 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 over 75 lakh merchants across 140+ cities, the company is a leader in UPI offline transactions, processing 11 crores+ UPI transactions per month (annualized Transaction Processed Value of US$ 10+ Bn). The company has already facilitated disbursement of loans totaling to over Rs. 1,800 crores to its merchants, since launch. BharatPe's POS business processes payments of over Rs. 1,400 crores/month. BharatPe has raised close to US$ 628 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 June 2021, it was also given an in-principle approval by Reserve Bank of India to establish a Small Finance Bank, in partnership with Centrum Financial Services Limited (Centrum), the established and profitable NBFC arm of the Centrum Group.
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