PR95188

NEW DELHI, PARIS, and SINGAPORE, Mar. 28, 2022 /PRNewswire＝KYODO JBN/--

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

BharatPe(https://bharatpe.com/), one of India's fastest-growing Fintech

companies and Ingenico, a Worldline brand(https://www.ingenico.com/), 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

months.

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."

ABOUT WORLDLINE

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.

ABOUT BHARATPE

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