Days after rebranding its Postpe app to BharatPe, the fintech giant has integrated the government-backed Open Network For Digital Commerce (ONDC) to enable food ordering and delivery for͏͏ its͏͏ users͏͏ through͏͏ the͏͏ app.
Access͏͏ to͏͏ 1.4͏͏ Lakh͏͏ Restaurants͏͏ in͏͏ 400+͏͏ Cities:
According͏͏ to͏͏ BharatPe’s͏͏ statement,͏͏ users͏͏ will͏͏ have͏͏ access͏͏ to͏͏ over͏͏ 1.4͏͏ lakh͏͏ restaurants͏͏ across͏͏ more͏͏ than͏͏ 400͏͏ cities͏͏ listed͏͏ on͏͏ ONDC͏͏ through͏͏ the͏͏ BharatPe͏͏ app.͏͏ They͏͏ will͏͏ also͏͏ be͏͏ able͏͏ to͏͏ track͏͏ their͏͏ orders͏͏ in͏͏ real͏͏ time.
The͏͏ company͏͏ further͏͏ stated͏͏ that͏͏ the͏͏ integration͏͏ will͏͏ benefit͏͏ approximately͏͏ 15͏͏ million͏͏ customers͏͏ by͏͏ removing͏͏ the͏͏ need͏͏ to͏͏ maintain͏͏ multiple͏͏ apps͏͏ on͏͏ their͏͏ phones.
“We͏͏ are͏͏ thrilled͏͏ to͏͏ join͏͏ the͏͏ ONDC͏͏ ecosystem,͏͏ enabling͏͏ our͏͏ users͏͏ to͏͏ order͏͏ and͏͏ have͏͏ food͏͏ delivered͏͏ through͏͏ our͏͏ BharatPe͏͏ app.͏͏ This͏͏ aligns͏͏ perfectly͏͏ with͏͏ our͏͏ mission͏͏ to͏͏ support͏͏ the͏͏ growth͏͏ of͏͏ local͏͏ businesses,”͏͏ said͏͏ BharatPe͏͏ CEO͏͏ Nalin͏͏ Negi.
Continue͏͏ Exploring:͏͏ Suniel͏͏ Shetty-backed͏͏ WAAYU͏͏ joins͏͏ ONDC,͏͏ aims͏͏ to͏͏ boost͏͏ restaurant͏͏ orders͏͏ with͏͏ zero-commission͏͏ model
BharatPe Strengthens͏͏ Super͏͏ App͏͏ with͏͏ UPI͏͏ and͏͏ E-Commerce:
This͏͏ development͏͏ is͏͏ in͏͏ line͏͏ with͏͏ BharatPe’s͏͏ vision͏͏ to͏͏ become͏͏ a͏͏ comprehensive͏͏ one-stop͏͏ solution͏͏ for͏͏ all͏͏ services.
For͏͏ example,͏͏ a͏͏ few͏͏ days͏͏ ago,͏͏ BharatPe,͏͏ in͏͏ collaboration͏͏ with͏͏ Unity͏͏ Bank,͏͏ entered͏͏ the͏͏ consumer͏͏ payment͏͏ space͏͏ by͏͏ launching͏͏ its͏͏ UPI͏͏ third-party͏͏ application͏͏ provider͏͏ (TPAP)͏͏ service.
Following͏͏ the͏͏ rebranding͏͏ of͏͏ its͏͏ PostPe͏͏ BNPL͏͏ (Buy͏͏ Now͏͏ Pay͏͏ Later)͏͏ app͏͏ to͏͏ BharatPe,͏͏ the͏͏ company͏͏ also͏͏ launched͏͏ UPI͏͏ Lite,͏͏ enabling͏͏ customers͏͏ to͏͏ preload͏͏ an͏͏ online͏͏ wallet͏͏ and͏͏ make͏͏ transactions͏͏ up͏͏ to͏͏ INR͏͏ 500͏͏ for͏͏ both͏͏ P2P͏͏ and͏͏ P2M͏͏ payments͏͏ without͏͏ requiring͏͏ a͏͏ UPI͏͏ PIN.
Regarding͏͏ BharatPe’s͏͏ e-commerce͏͏ strategy,͏͏ the͏͏ company͏͏ has͏͏ introduced͏͏ an͏͏ e-commerce͏͏ section͏͏ where͏͏ it͏͏ currently͏͏ offers͏͏ vouchers͏͏ for͏͏ Amazon,͏͏ HealthifyMe,͏͏ ixigo,͏͏ Nykaa,͏͏ Zomato,͏͏ and͏͏ various͏͏ modern͏͏ retail͏͏ and͏͏ D2C͏͏ brands,͏͏ in͏͏ addition͏͏ to͏͏ UPI͏͏ payments.
With͏͏ this͏͏ food͏͏ ordering͏͏ and͏͏ delivery͏͏ feature,͏͏ BharatPe͏͏ further͏͏ enhances͏͏ its͏͏ Super͏͏ App͏͏ capabilities.
As͏͏ BharatPe͏͏ continues͏͏ to͏͏ expand͏͏ its͏͏ app’s͏͏ offerings,͏͏ it͏͏ also͏͏ increased͏͏ its͏͏ stake͏͏ in͏͏ its͏͏ non-banking͏͏ financial͏͏ company͏͏ (NBFC)͏͏ Trillion͏͏ Loans͏͏ last͏͏ month͏͏ with͏͏ an͏͏ investment͏͏ of͏͏ $8-9͏͏ million.͏͏ The͏͏ company͏͏ aims͏͏ to͏͏ fully͏͏ acquire͏͏ Trillion͏͏ Loans.
This͏͏ investment͏͏ came͏͏ as͏͏ BharatPe͏͏ secured͏͏ debt͏͏ funding͏͏ of͏͏ INR͏͏ 85͏͏ crore͏͏ (approximately͏͏ $10.1͏͏ million)͏͏ from͏͏ Trifecta͏͏ Venture͏͏ and͏͏ InnoVen͏͏ Capital͏͏ through͏͏ the͏͏ issuance͏͏ of͏͏ non-convertible͏͏ debentures͏͏ (NCDs).
Revenue͏͏ Grows͏͏ Despite͏͏ FY23͏͏ Loss͏͏ Expansion:
BharatPe’s͏͏ net͏͏ loss͏͏ widened͏͏ to͏͏ INR͏͏ 926.9͏͏ crore͏͏ in͏͏ FY23,͏͏ a͏͏ 12%͏͏ increase͏͏ from͏͏ INR͏͏ 828.6͏͏ crore͏͏ in͏͏ FY21.͏͏ However,͏͏ revenue͏͏ from͏͏ operations͏͏ surged͏͏ 125%,͏͏ reaching͏͏ INR͏͏ 1,028.9͏͏ crore͏͏ in͏͏ FY23,͏͏ up͏͏ from͏͏ INR͏͏ 456.8͏͏ crore͏͏ in͏͏ the͏͏ previous͏͏ fiscal͏͏ year.
