On 4th May 2020, the BharatPe, a Merchant payment and a leading network provider launched two voice-based applications Paisa Bolega and BharatPe Balance for the account holders to access transactions and balance using without touching the phones in the COVID-19 pandemic.
Key Points:
i.The Paisa Bolega is a button introduced in the BharatPe which converts the smartphone into a speaker with this voice alerts of transactions by providing loud instant confirmations for all the received payments through their BharatPe quick response(QR)
ii.BharatPe Balance will provide the information about total available balance across the deposits, loan and daily collections through the QR. This will provide a snapshot of the shopkeepers daily QR collections, balance in 12% interest a/c and the loan limit.
iii.BharatPe mentioned that the business per merchant went up as both the customers and shopkeepers prefer contactless QR payments.
iv.The Average ticket size went up from Rs 300 to Rs 500 that is 70% as the customers are shopping more for the essentials, albeit less frequently.
About BharatPe:
CEO & Co-Founder– Ashneer Grover
Co-founder & Board Member– Shashvat Nakrani
Headquarters– New Delhi
