News Muncher - searching for payments

BharatPe sees 77% surge in merchant onboarding business amidst Paytm’s payments bank troubles

Fintech player BharatPe has seen a significant increase in its operations following the restrictions imposed by the Reserve Bank of India on competitor Paytm's payments bank arm on January 31, 2024. In February 2024, BharatPe reported a 77 percent surge in merchant onboarding compared to the previous month, the Hindu Businessline reported. Furthermore, Tier-III cities and beyond experienced an impressive …

BharatPe vs Ashneer Grover: BharatPe co-founder and former managing director Ashneer Grover has sent a letter to the payments firm’s board and sought apology from its CEO Suhail Sameer for his comments on LinkedIn against him and his sister Aashima. In his letter, Ashneer Grover said that Suhail Sameer’s words on social media were not only defamatory, but “also blatantly …

At BharatPe, probe finds recruitment fraud and payments to fictitious firms

Payments application owned by Flipkart, PhonePe has moved the Bombay High Court seeking an injunction to cease its rival BharatPe from “misusing” the ‘Pe’ suffix in the latter’s ‘but now, pay later’ product namely ‘PostPe’. PhonePe and BharatPe have been fighting over the ‘Pe’ suffix in their brand names since 2018. The withdrawal in June had come after the Delhi …

Digital payments firm PhonePe has withdrawn its injunction plea against BharatPe over the use of the suffix ‘Pe’ as it prepares to take on the latter in a full trial expected to start in July. PhonePe filed a commercial lawsuit against BharatPe, alleging violation of its trademark and claiming exclusivity on the ‘Pe’ suffix in May 2019 at the Delhi …

Private equity firm Alteria Capital on Sunday said it has invested close to ₹90 crore in payments and alternative lending platform BharatPe, as part of a ₹250-crore fund-raising round. According to a person familiar with the development, apart from Innoven Capital’s ₹60 crore investment announced last week, ICICI Bank invested ₹49 crore in the round, besides other investors. “We are …

BharatPe plans to raise $150-200 million in equity funding and around $500 million of debt, in the biggest fund-raise for the payments and alternative lending startup. The company aims to raise the first tranche of about $100 million equity by March, chief executive and co-founder Ashneer Grover said in an interview, adding the debt will be raised over two years. …

BENGALURU: Payments and alternative lending startup BharatPe has added three new products -- loyalty payment cards, merchant-based point-of-sale solution and a credit line -- in a bid to diversify its offering. Apart from focusing on its QR-code solutions, Gurugram-based BharatPe is also diversifying into the prepaid card segment and has been helping merchants issue close-loop loyalty cards, equipped with QRs …

The crisis has pushed card payments to shift to UPI: Ashneer Grover

India’s digital payments economy made a strong comeback during the pandemic as lockdown restrictions and fears of contracting infection forced consumers to look for alternatives to cash transactions. Covid-19 is not only providing strong tailwinds to the digital payments ecosystem but will also lead to digitizing and improving the underwriting capabilities of digital lenders in the long term, Ashneer Grover, …

Digital Payments