bharatpe

BharatPe launches UPI offering, taps into consumer payments segment

Fintech platform BharatPe on Wednesday announced the launch of its UPI TPAP (third-party application provider) to facilitate consumer digital payments. Earlier, BharatPe provided merchant-to-merchant digital payment services. The company has also rebranded buy-now-pay-later app postpe' to BharatPe', according to a statement. With this, there are now two apps available in the public domain: BharatPe (earlier postpe), and BharatPe for Business. The fintech platform said it has partnered with Unity Bank to enable TPAP. Customers can create their UPI ID on the BharatPe app with the extension @bpunity, and make both individual and merchant transactions. "With our UPI TPAP, we aim to enable millions across Bharat to make seamless and secure UPI transactions, for their individual as well as business needs. "The foray into the consumer payments category will help us to further propel adoption of digital payments and drive financial inclusion across the country," BharatPe CEO Nalin Negi

Delhi HC okays appointment of arbitrator in Ashneer Grover-BharatPe dispute

The court ruled that the arbitration will be under the Delhi International Arbitration Centre (DIAC)

BharatPe launches secured loans for merchants, expands credit offerings

Merchants on the fintech platform can avail of two-wheeler loans up to Rs 2.5 lakh from OTO Capital, with a repayment period ranging between 12 and 48 months

'Hire fast, fire fast': Ashneer Grover wants shorter hiring, notice periods

Ashneer Grover said that a lengthy hiring process can still fail to yield the desired results as candidates are on their best behaviour at that time but may not meet expectations later

BharatPe, PhonePe amicably settle trademark disputes over 'Pe' suffix

The settlement concludes five-year-long legal disputes across multiple courts

Cheating-forgery case: HC permits Ashneer Grover, wife to travel abroad

The Delhi High Court on Friday permitted payment app BharatPe's former MD Ashneer Grover and his wife, facing prosecution in a cheating and forgery case, to travel abroad by directing them to furnish a surety of Rs 80 crore each. While the couple intended to travel together to the USA from May 26 to July 1, the court permitted them to go abroad one at a time. On the suggestion of petitioners' counsel, the court allowed Grover to travel to the USA from May 26 to June 12 and his wife Madhuri Jain Grover from June 12 to July 1. Justice Subramonium Prasad said the couple shall not extend the dates of travel and shall return to India on the given dates. He made it clear that any application for the extension of stay abroad will not be entertained. They sought the permission to travel abroad to meet their extended family members in the USA and also submitted that their son has been invited for a summer course -- National Student Leadership Conference -- at the University of California, .

Court asks Ashneer Grover, wife to give Rs 80 cr security to travel to US

The Delhi High Court also directed Ashneer Grover and his wife to submit their Emirates Card to the court, preventing visits to the UAE due to their 'golden visa'

Former BharatPe COO Bahl-led Eternal Capital launches Rs 120 crore VC fund

The fund has been uniquely structured to democratise and simplify access to early-stage institutional deals in start-ups

BharatPe launches all-in-one payment device: Know how it helps merchants

BharatPe One device combines point of sale, QR code, and speaker functionalities

Fintech major BharatPe launches an 'all-in-one' payment acceptance device

The device enables transactions via different methods such as point-of-sale (PoS), quick response (QR) code, tap-and-pay and traditional card payment options such as debit and credit cards

BharatPe launches payment device BharatPe One with integrated POS

Indian fintech major BharatPe on Tuesday launched BharatPe One, an all-in-one payment product that integrates POS (point of sale), QR code, and speaker into one device. The company in a statement said it plans to launch the product in about 100 cities in the first phase. It will further scale it to around 450 cities over the course of the next 6 months. "Equipped with a high-definition touchscreen display, 4G and Wi-Fi connectivity, and powered by the latest Android operating system, BharatPe One delivers enhanced performance and security. "With user-friendly interface, portable design, and comprehensive transaction dashboards, BharatPe One caters to the diverse needs of the offline merchants," the statement said. BharatPe One is designed to streamline transactions for merchants, it further said, offering versatile payment acceptance options including dynamic and static QR code, tap-and-pay and traditional card payment options, across a wide range of debit and credit cards. Bharat

BharatPe elevates Nalin Negi to full-time CEO after Sameer's exit in 2023

Fintech firm BharatPe on Tuesday said it has elevated its interim CEO and chief financial officer Nalin Negi as full-time chief executive officer. Negi was given charge of interim CEO in January 2023 after then CEO Suhail Sameer stepped down from the post. "We look forward to supporting Nalin Negi in his new role and are grateful for his tremendous contribution as the interim CEO. His extensive experience in the fintech industry and the growth witnessed for BharatPe under his leadership, makes him a natural choice to lead the company," BharatPe, Chairman of the board, Rajnish Kumar said. Negi joined BharatPe in 2022, with over 28 years of experience in building and scaling businesses in the fintech and banking domains. "I am excited and honoured to take on this new role at BharatPe. Going forward, our strategic focus will be on sustained profitability, scaling lending businesses, and launching new merchant-centric products. "We are committed to building on the strong foundation, .

BharatPe rejigs senior management of payment, lending unit verticals

Fintech firm BharatPe is learnt to have rejigged senior management of its payment and lending unit verticals, according to sources. The company has elevated its banking and alliance Chief Business Officer Sandeep Indurkar as CEO of payment vertical -- Resilient Payments Pvt Ltd. CEO BharatPe's Zillion -- erstwhile Payback India -- Rijish Raghavan will now handle device business of the company. The company's head for consumer lending vertical Kohinoor Biswas will handle Zillion in place of Raghavan. All three will report to BharatPe's CFO and interim CEO Nalin Negi. An emailed query sent to BharatPe elicited no response. There has been no change in the merchant app vertical. The company has seen improvement in business with 182 per cent year-on-year increase in revenue from operations to Rs 904 crore in FY23, while loss before tax fell to Rs 886 crore from Rs 5,594 crore during the period. A significant progress was made in reducing loss before tax, from Rs 5,594 crore to Rs 886

Ashneer files plea in NCLT, seeks exemptions in petition against BharatPe

BharatPe co-founder and former managing director Ashneer Grover has filed a plea before NCLT seeking waiver over a petition earlier filed by him alleging oppressive conduct and mismanagement by the board of the fintech firm. On this, the Delhi bench of National Company Law Tribunal (NCLT) on Monday issued a notice, seeking reply from BharatPe and other respondents and listed the matter for the next hearing in April. Last December, Grover had filed a plea before NCLT alleging oppressive conduct and mismanagement by the board of Resilient Innovations Pvt Ltd, which is doing business as BharatPe, under sections 241 and 242 of the Companies Act 2013. However, section 244 of the Act also mandates that the shareholder, to file an appeal under section 241, should have a minimum of 10 per cent of the shares of the company. It also empowers NCLT "may, on an application made to it in this behalf, waive all or any of the requirements specified" so as to enable a petitioner to apply under sect

Confusion and concern: Traders brace for impact of Paytm crisis

Some shift to alternatives and shun the platform, others still swear by it

MCA issues fresh notice to fintech BharatPe as part of ongoing inquiry

BharatPe claimed that the notice pertained to an inquiry initiated in 2022, requesting additional information on its operations and actions taken against co-founder Ashneer Grover

BharatPe fraud: Ashneer Grover, wife move HC challenging lookout circular

Payment app BharatPe's former MD Ashneer Grover and his wife on Thursday approached the Delhi High Court seeking quashing of the Look Out Circular (LOC) issued against them in connection with the investigation in a cheating and forgery case. Justice Subramonium Prasad, before whom the matter came up for hearing, listed it for May 8 saying the investigation in the case registered by the Delhi Police's Economic Offences Wing (EOW) is at a nascent stage. It is too hot in the day for this court to intervene now. Come after sometime. The investigation is at a nascent stage and they will take some time to investigate, the high court said. It further said that at this juncture, it will not be correct to say that the LOC is completely unjustified. As an interim relief, Grover and his wife Madhuri Jain Grover have sought suspension of the LOC issued against them with a further direction to the authorities not to interfere with or prevent their right to travel abroad. The court asked the ..

BharatPe earns Rs 904 cr against a loss before tax of Rs 886 cr in FY23

BharatPe's EBITDA loss declined by about Rs 158 crore in FY23, it said in a statement

Ashneer Grover approaches NCLT seeking reinstatement as BharatPe MD

Ashneer Grover also sought the revocation of the termination of his wife Madhuri Jain Grover and directions to revert any new shares issued by the firm since his resignation

NCLT directs Grover to establish maintainability of plea against BharatPe

The case will next be heard by the New Delhi bench of the National Company Law Tribunal (NCLT) on January 11