India-based fintech BharatPe has signed a five-year strategic partnership with Ingenico, a Worldline brand, to accelerate the adoption of point-of-sale (POS) devices in India.
Under the tie-up, Ingenico will provide 100,000 of its Axium range of Android Smart POS as well as its Payments Platform as a Service (PPaaS) solution to BharatPe’s merchant network in the next 12 months.
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These offerings are expected to help the Delhi-based fintech unicorn to cater to the evolving needs of Indian merchants.
In addition, Ingenico’s PPaaS solution will help BharatPe accelerate the rollout of its business applications to the market.
The solution is said to be a cloud-based platform comprising a range of payment and commerce services solutions designed to manage terminals with third-party applications and alternative payment methods.
It is designed to work with any payment device other than the 35 million Ingenico POS that are already deployed in 170 countries worldwide and for online commerce.
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By GlobalDataIngenico Asia Pacific senior vice-president Nigel Lee 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.”
BharatPe co-founder Shashvat Nakrani added: “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.”
According to Nakrani, BharatPe’s PoS business is present in more than 250 cities and the firm has rolled out over 125,000 BharatSwipe machines across offline shops.
Last year, the firm acquired multi-brand loyalty programme provider Payback India as part of a strategy to develop a network of over 20 million small merchants by 2023.
