BharatPe's point of sale vertical turns profitable

Fintech firm BharatPe's point of sale (poS) vertical BharatSwipe has turned profitable in two years of its launch and aims to close the fiscal with annualised transaction processing value of $6 billion, the company said on Thursday. BharatPe launched BharatSwipe, zero rental swipe machine, in 2020.

BharatSwipe contributes over 20% to the overall payments transaction processed value of the company annually. BharatPe has an installed base of close to 2 lakh PoS machines across more than 250 cities in the country.

"BharatSwipe turning profitable is a great validation of the merchants' trust in us and our business model. Today, we clock close to 4 million transactions on our PoS devices every month. We are committed to scale this business and are aiming to end this fiscal with $6 billion in annualised TPV," BharatPe founder Shashvat Nakrani said.