BENGALURU: Fintech firm BharatPe targets to reach $30 billion TPV (Transaction Processed Value) on payments through both QR and Swipe by March 2023.
It has witnessed 200% growth in the annualised transaction value from its Point of Sale (POS) business, over the last 12 months. It has ramped up the reach of its BharatSwipe by 25X to over 250 cities.
The company on Thursday announced that it has deployed more than 1.25 lakh BharatSwipe machines across offline shops. BharatSwipe contributes about 25% to the overall payments TPV of the company.
The fintech firm attributed this growth to the expansion of the company’s POS business in non-metro cities, with more than 50% of BharatSwipe machines being deployed in tier-2/tier-3 towns since 2021.