BharatPe, a big player in Indian fintech, just released BharatPe One, a single payment device combining POS, QR code, and speaker functions. Initially launching in about 100 cities, they plan to expand to 450 cities in the next 6 months.
This all-in-one device supports dynamic and static QR codes, tap-and-pay, and card payments, making transactions easy. It runs on Android, has an HD touchscreen, and works with 4G and Wi-Fi. Though they didn’t reveal the price yet, it’s set to streamline payment processes for businesses.
BharatPe One: The All-in-One Solution for Merchants
BharatPe One is a handy device that makes payment processing easy for shop owners. It has a clear touchscreen, connects to 4G and Wi-Fi, and runs on Android. Plus, it’s secure. With its simple interface and compact design, it’s perfect for small businesses. You can easily track transactions with its detailed dashboards.
It accepts various payment methods like QR codes, tap-and-pay, and card payments, supporting many debit and credit cards.
BharatPe CEO Nalin Negi on BharatPe One
BharatPe CEO Nalin Negi mentioned that this device is tailored to suit the needs of different businesses. It’s a cost-effective solution that combines multiple functions in one device. BharatPe One is set to revolutionize digital payments for countless offline merchants nationwide. By offering multiple functions in one affordable device, it aims to cater to the diverse needs of small and medium businesses across different industries. Negi, recently appointed as the full-time CEO, took over from Sameer Suhail in January 2023. The company plans to launch BharatPe One in over 100 cities initially and expand it to 450 cities within the next six months.
BharatPe’s Journey and Competition in the Payment Device Market
Throughout 2023, BharatPe introduced various devices offering QR code payments, credit card bill payments, and utility payments. One notable launch was BharatPe Swipe Android, an Android PoS terminal announced in August 2023. They aimed to double their PoS network to over 2 lakh machines in 400 cities within a year.
During their FY23 financial announcement, BharatPe noted a significant increase in soundbox device installations. Their operating revenue soared by 125% to INR 1,028.9 Cr, while net loss rose by 12% to INR 926.9 Cr.
In the PoS terminal market, BharatPe competes with Paytm, PhonePe, and GooglePe. A recent report by Mordor Intelligence states that the payment devices market reached $33.2 Bn in 2024 and is projected to hit $63.2 Bn by 2029. Interestingly, BharatPe One’s launch coincided with Paytm unveiling two new Soundbox variants. Paytm’s ‘Made In India’ devices promise improved battery life, sound quality, and support notifications in 11 languages, including English, Hindi, Gujarati, Odia, Marathi, Telugu, and Tamil.
Also Read:
Meta Unveils Llama 3 AI Model Challenging OpenAI, Microsoft, and Google
Google Gemini, OpenAI’s ChatGPT Could Lead to Civilization’s End, Warns Elon Musk
Nalin Negi Becomes New BharatPe CEO After Suhail Sameer Steps Down
