Street vendors, retail outlets top BharatPe’s merchant categories for loans in Q1FY23

New Delhi, July 6 (KNN) BharatPe announced on Tuesday that roadside kiosks and street vendors, retail outlets, grocery, food and beverages were its top merchant categories for loans in the first quarter of fiscal year 2022-23.

It has disbursed over Rs 3,600 crore loans to more than 1.2 lakh merchants in Q1FY23.

The digital payments app said that its card acceptance point-of-sale businesses BharatSwipe and investment platform for merchants saw more than 30 per cent QoQ growth in Q1.

BharatPe also said that its annualised total payment value (TPV — total transaction value through the platform in a given period) hit an all-time high of USD 18.5 billion in Q1 FY23, up by more than 50 per cent from the previous quarter.

Calling it the company’s best-ever quarter in Q1, FY23, Suhail Sameer, CEO, BharatPe said, “We will continue to focus on scaling our key segments – payments and credit businesses.”

Emphasising on the aim of the company, he said that company is on track to achieve the USD 2 billion loan target facilitated (through BharatPe’s NBFC and bank partners) across consumer and merchant business by the end of FY23 as well as scaling payments TPV to USD 30 billion by March 2023.  (KNN Bureau)