BharatPe, India’s largest merchant payment and lending network company has introduced two new products – Paisa Bolega and BharatPe Balance in its app.
With Paisa Bolega, shopkeepers will be able to hear aloud instant confirmation of all payments received through their BharatPe QR, without even touching the phone. BharatPe Balance reflects the total money available to the shopkeeper across deposits, loans and daily collections through QR.
BharatPe has been a leader in offering simple solutions for shopkeeper’s business needs. During the lockdown, the company has seen business per merchant go up significantly as both customers and shopkeepers prefer contactless QR payments. Average ticket size has gone up 70% from Rs. 300 to Rs. 500 as customer shop more for essentials, albeit less frequently.
‘Paisa Bolega’ is a button introduced in BharatPe App. This converts the shopkeeper’s smartphone into a loudspeaker – announcing the value of the transaction received. This does away the need for the merchant to check his phone repeatedly to see if money has come in. No need to maintain any additional device.
BharatPe Balance feature gives a single snapshot of the shopkeeper’s daily QR collections, balance in 12% interest A/C and the loan limit. This gives the shopkeeper a single snapshot of his business and capital available to him.
Ashneer Grover, CEO & Co-Founder, BharatPe said, “We believe in offering solutions that are affordable and easy to use. Our new instant voice alerts on transaction products (‘Paisa Bolega’) is free, compared to a competing payment player who is giving Chinese speakers to do the same voice alerts and is charging hundreds of rupees from merchants for it.”
“BharatPe is all about Indian software ingenuity over Chinese hardware. Shopkeeper’s phone is all the hardware that he actually needs and is more capable than all PoS devices combined,” added Ashneer.