BharatPe: Rs 3,600 crore loans disbursed to 1.2 lakh merchants in Q1 FY23; TPV hits all-time high

Credit and Finance for MSMEs: Digital payments app BharatPe on Tuesday announced disbursing over Rs 3,600 crore loans to more than 1.2 lakh merchants in the first quarter of the financial year 2022-23. While disbursements recorded 112 per cent quarter-on-quarter growth, the merchant beneficiary count grew nearly 82 per cent from the January-March quarter, according to a company statement. 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 $18.5 billion in Q1 FY23, up by more than 50 per cent from the previous quarter.

Grocery, food and beverages, roadside kiosks and street vendors, and retail outlets were the top merchant categories for loans. According to the company, its card acceptance point-of-sale businesses BharatSwipe and investment platform for merchants saw more than 30 per cent QoQ growth in Q1.