Chennai, April 22, 2021: Keeping up with its endeavor to empower small merchants, BharatPe, India’s leading Fintech Company for merchants, today announced the winners of Phase 1 of its 3-month-long merchant contest called BharatPe Festive Bonanza in Chennai. This exciting merchant contest designed to strengthen BharatPe’s relationship with its merchant partners had a host of prizes on offer for the company’s merchants across top 30 cities in the country.
The winners, announced across 10 emerging cities in India, took home a Bajaj Pulsar, a 32-inch television, a smartphone or Bluetooth speakers. A total of 673 merchants across cities took home these exciting prizes. 32 merchants from Chennai won awards at a glitzing event organized in Ashok Nagar, Chennai. While 2 merchants took home a bike, 10 merchants won a 32-inch television and 20 merchants won a smartphone.
This one-of-its-kind contest was in line with BharatPe’s expansion plan and merchant engagement in emerging cities in the country. Launched in the last leg of the festive season in 2020, the contest was curated to not only attract and engage the new merchants in Chennai, but also applaud their good work. Every merchant with ≥ 25 transactions or Rs 10,000 of transaction processing value (TPV) was eligible to participate in the contest.
The contest had 5 milestones at successive 25 transactions or Rs 10,000 TPV. At each milestone, the merchant bagged runs by scratching a scratch card and won one of the many prizes on offer. The merchants won Bluetooth Speaker at milestone 2, a Smartphone at milestone 3, a 32-inch TV at milestone 4, and a motorbike at milestone 5. The second phase of the contest is currently live in 20 cities and will end on March 31, 2021.
Speaking at the occasion, Mr. Nishant Jain, Chief Business Officer, BharatPe said, “At BharatPe, we have an entrenched network of over 6 million merchants across 100 cities in the country. As we expand our merchant base, our focus will shift to building an engaged community of merchant partners across the length and breadth of the country. We aspire to be long-term partners and one-stop destination for all small merchants and SMEs and cater to all their fintech requirements. The BharatPe Festive Bonanza was designed to dial up our merchant relationship to the next level, encourage merchant partners to transact more using BharatPe and also applaud our loyal merchant partners. We have received an overwhelming response to this initiative, inspite of the fact that the retailers across the country were trying to cope with the pandemic and focusing on getting their business back on track in 2020 end. We believe that the growth of our partners is essential for our growth and hence, we will continue to roll out more initiatives to recognize and applaud our merchant partners across cities in the year 2021.”
The contest was live for merchants across tier-1, 2 and 3 cities in India including Chennai, Jaipur, Dehradun, Indore, Allahabad, Aurangabad, Kanpur, Lucknow, Kochi, Kakinada and Rajahmundry. This contest further helped in communicating BharatPe’s vision and building brand recall for the company, amongst small merchants and kirana store owners.
The year 2020 has been phenomenal for BharatPe with the company witnessing a 5x growth in payments and a 10x growth in lending business over the last 12 months. Scripting a new chapter in the country’s Digital India story, BharatPe is going beyond metros with the objective of empowering merchants in Bharat with its safe and secure digital payment infrastructure as well as its credit offerings. The company has recently announced that it has expanded its footprint to 100 cities and aims to scale its presence to 300 cities by March 2023. It also plans to add 4 million merchants to the existing list of over 6 million merchants by the end of 2021.