Kept on Wikipedia:BharatPe
Hello @Nomadicghumakkad, as per your suggestion, I read Wikipedia:THREE. The first reference I will give is from Business India magazine titled BharatPe all set to crack the merchant’s code - which is written by a consulting editor. As you may see, it is very and include a lot of information about BharatPe. The second reference I would give is The Economic Times article that is carrying news about the controversy with PhonePe. PhonePe's battle with BharatPe over suffix set for full trial in July There is one more article on some other issue in Livemint here. Also see CNN Article talking about Peer to Peer lending through Bharatpe. And here is a report by Hindustan Times about some offers they made for new employees. Check here. GQ also wrote an article about it. See here. And then one more at ET about bank acquisition. They are acquiring a bank and this gives an idea why it should be considered notable. No?
BharatPe is a P2M (Person to Account) UPI payment service provider in India.[1] The fintech company allows the users to transact for 24-carat gold containing purity with the help of Digital Gold.[2]The other products include Bharat Loan and Bharat Swipe.[3]
Acquisition/Mergers[edit]
In January 2021, the company had made a joint pitch to acquire Punjab and Maharashtra Cooperative Bank with Centrum.[4]The acquisition was approved by RBI in June 2021.[5]
Controversies[edit]
BharatPe got into controversy when it tried to label other competitors like Paytm as not completely Indian companies because of ownership by companies that are not Indian while calling itself Nationalistic because of complete Indian ownership. The employees of the company distributed pamphlets with such information to compromise the reputation of competitors. The Mint reported to have copies of such pamphlets and reported
“BharatPe’s employees allegedly distributed pamphlets to merchant partners pointing out the ownership of competitors Paytm, PhonePe, GPay and Amazon Pay. The pamphlets cited Paytm’s significant ownership by Chinese companies, while the rest were tagged American because they were owned by US-based companies.
The competitors responded with law suits and also approached the Reserve Bank of India to stop such activities by BharatPe[6]The pamphlet distribution was also confirmed by Times of India. The same reported "BharatPe's actions has incensed rivals, especially Paytm and PhonePe, as they compete more directly than others like Amazon and Google Pay."[7]
The other controversy BharatPe was involved in was with another competitor PhonePe when the two payment applications fought over the use of words 'Pe'. The matter is to be sought in the courts in July 2021.[8]
References[edit]
- ↑ "BharatPe all set to crack the merchant's code". businessindia.co. Retrieved 2021-06-23.
- ↑ "BharatPe launches Digital Gold, to add credit and debit cards as payment options in near future". The Financial Express. 2020-10-27. Retrieved 2021-06-23.
- ↑ "BharatPe aims to disburse ₹1,000 crore in loans in next six months". @businessline. Retrieved 2021-06-23.
- ↑ Mittal, Apoorva. "BharatPe puts in joint bid to acquire PMC Bank". The Economic Times. Retrieved 2021-06-23.
- ↑ "Centrum takeover of PMC Bank: What's in store for existing depositors". The Indian Express. 2021-06-21. Retrieved 2021-06-23.
- ↑ Bhalla, Tarush (2020-09-01). "BharatPe's taunts on nationalism irk rivals". mint. Retrieved 2021-06-23.
- ↑ Sep 3, Digbijay Mishra / TNN / Updated; 2020; Ist, 16:01. "BharatPe displays 'Indian' tag, dares Paytm, PhonePe - Times of India". The Times of India. Retrieved 2021-07-10.
- ↑ "PhonePe's battle with BharatPe over suffix set for full trial in July". The Economic Times. Retrieved 2021-07-10.
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