Synopsis
The digital fintech company saw a much higher adoption of digital payments in Tier 2 and Tier 3 cities in the aftermath of the virus outbreak.
BharatPe’s lending product allows creditworthy SME merchants to avail loans via a 100% digital and automated process. (Pic: BharatPe)
In a move to expand its offerings to more SMBs, digital fintech player BharatPe has scaled its presence from 65 cities to 100 cities over the last 3-4 months. With both merchants' acceptability as well as consumer keenness for digital payments up significantly during Covid, the company accelerated its plans of an aggressive expansion exercise.
“We just launched our 100 cities. The experience has been great from the point of view that the merchant onboarding has been a breeze. It has been far better than what our experience was two years back in the first 30 cities. The number of transactions per merchant as well as the value of transactions is also not significantly different from what we witnessed in the top 30 cities,” Suhail Sameer, Group President, BharatPe said in an exclusive interaction with ET Rise.