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Business & Finance

Ingenico, a Worldline Brand, and BharatPe Partner to offer Advanced Payment and Commerce Services to Indian Merchants


– 5-year strategic partnership marks a new era in the world of commerce

BharatPe(, one of India’s fastest-growing Fintech
companies and Ingenico, a Worldline brand(, today
announced a five-year strategic partnership that will help fuel the adoption of
POS devices in India. As a part of the partnership, Ingenico will roll out
100,000 of its Axium range of Android Smart POS and PPaaS (Ingenico’s Payments
Platform as a Service) to BharatPe’s merchant network in India over the next 12

The combination of Axium DX8000 Android-based terminals and PPaaS brings
BharatPe, the Delhi-based unicorn, a technology stack that is designed to
address the needs of a fast-growing and evolving market. Built as per the
latest industry norms and using the Android 10 operating system, the large user
interface on the Axium terminal makes it ideally suited to BharatPe’s merchants.

As the No.3 private POS player in India and one that is constantly innovating
with new services, BharatPe, with Ingenico’s PPaaS solution, will have the
flexibility to bring its innovative business applications to the market in the
shortest span of time. PPaaS is a suite of payment and commerce services that
combines solutions for managing terminals with third-party applications and
alternative payment methods. The cloud-based platform works with any payment
device beyond the 35 million Ingenico POS already deployed in 170 countries
around the world and for online commerce.

For Ingenico, this partnership is the opportunity to reinforce its presence in
the high-potential Indian market as well as positioning Ingenico as an
ecosystem enabler empowering commerce across all channels, simplifying payments
and delivering innovative customer journeys.

Speaking of the partnership at the India FinTech Expo in Delhi where he is a
keynote speaker, Nigel Lee, Ingenico’s Senior Vice President for Asia Pacific
said: “We are delighted to accompany BharatPe’s growth trajectory in India, a
strategic market for Ingenico. This partnership is a huge opportunity for
Ingenico, to support BharatPe and to extend the range of services it can bring
to merchants. In addition, Ingenico’s mission for PPaaS is to help its partners
manage the different services they make available to their merchants simply and
efficiently in a way that is far quicker and easier than other technologies
currently allow. We are proud to enable BharatPe to do just that and to support
them along their extraordinary growth journey.”

Speaking on the partnership, Shashvat Nakrani, Co-Founder, BharatPe, said, “We
have scripted one of the fastest scale-ups in the POS industry in India since
we launched BharatSwipe in 2020. Today, our PoS business is active in 250+
cities and we have deployed more than 1.25 lac (125,000) BharatSwipe machines
across offline shops. Also, we are processing US$ 4 bn in annualized
transaction processing value on our PoS devices currently. With this strategic
partnership with Ingenico, we will be able to add a new dimension to our range
of Fintech offerings for offline merchants. The new Axium POS machines coupled
with PPaaS will enable us to offer world-class payment and commerce services to
our merchant partners and further empower them to grow their business. We will
continue to explore strategic partnerships with renowned players across
industries so as to offer best-in-class Fintech products and services to our
millions of merchant partners.”


Worldline [Euronext: WLN] is a global leader in the payments industry and the
technology partner of choice for merchants, banks and acquirers. Powered by
20,000 employees in more than 50 countries, Worldline provides its clients with
sustainable, trusted and innovative solutions fostering their growth. Services
offered by Worldline include instore and online commercial acquiring, highly
secure payment transaction processing and numerous digital services. In 2021,
Worldline generated a proforma revenue close to 4 billion euros.


BharatPe was founded 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 80 lakh merchants across 150+
cities, the company is a leader in UPI offline transactions, processing 11
crores+ UPI transactions per month (annualized Transaction Processed Value of
US$ 16+ Bn in payments). The company has already facilitated disbursement of
loans totalling to over INR 3000 crores to over 300,000 merchants, since
launch. BharatPe’s POS business processes payments of over US$ 4 bn annually on
its POS machines. It has a network of 1.25 lac+ machines across cities.
BharatPe has raised over US$ 650 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. In
October 2021, the consortium of Centrum Financial Services Limited (Centrum)
and BharatPe, was issued a Small Finance Bank (SFB) license by the Reserve Bank
of India (RBI). BharatPe also made its grand entry in the Buy Now Pay Later
segment with the launch of postpe in October 2021.

SOURCE: Ingenico, a Worldline brand