BharatPe can now function as online payment aggregator in India
What's the story
BharatPe, a leading player in the fintech space, has got the Reserve Bank of India (RBI) approval for a payment aggregator license.
The development makes BharatPe India's only fintech company to have an NBFC license via Trillion Loans, a share in Unity Small Finance Bank, and now a PA license.
The company plans to grow its presence in tier two and three cities where digital payments are quickly catching up.
Expansion plans
Ambition to enhance digital payments
BharatPe processes payments worth ₹1.7 lakh crore every year and has disbursed loans of over ₹18,000 crore through partnerships.
Its point-of-sale business alone processes ₹29,000 crore worth of transactions annually.
Sandeep Indurkar, CEO of Resilient Payments (a BharatPe Group company), said they want to expand their footprint across high-potential markets and expand their product suite.
He stressed on the focus on execution—building with intent, speed, and reliability.
Platform
What is BharatPe X?
BharatPe plans to launch an online payment aggregator platform under the brand 'BharatPe X,' to penetrate deeper into smaller cities and high-growth sectors.
BharatPe CEO Nalin Negi said the final authorization for this is not just a milestone but also a responsibility they take seriously.
He highlighted the strength of the governance practices and operational frameworks they've built over the years.
Investments
Investment platform and future plans
Last October, BharatPe had launched Invest BharatPe, an investment platform in partnership with Mumbai-based start-up Safegold.
There, users can invest in 24K pure gold with as little as ₹100.
Meanwhile, BharatPe plans to expand Invest BharatPe with more investment products in the future.
The fintech firm is also reportedly negotiating with NBFCs for a fixed deposit option.