Categories: Agreements

Axis Bank ties up with BharatPe for PoS business

Axis Bank has partnered with BharatPe for the point of sale (PoS) business of BharatPe named BharatSwipe. Under the partnership, Axis Bank will be the acquiring bank for BharatSwipe and will provide acceptance of credit and debit cards for merchants associated with BharatPe. The partnership will help BharatPe to expand its merchant acquiring business in India.

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BharatPe’s PoS machine BharatSwipe has an installed base of 100,000 across 16 cities, processing around Rs 1,400 crore per month. BharatPe clocked an annualised transaction value of $2 billion on PoS terminals at the end of FY21. The company has set a target of $6 billion in transaction processed value (TPV) by FY22.

Important takeaways for all competitive exams:

Axis Bank CEO: Amitabh Chaudhry;
Axis Bank Headquarters: Mumbai;
Axis Bank Founded: 3 December 1993, Ahmedabad.

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Sumit Arora

As a team lead and current affairs writer at Adda247, I am responsible for researching and producing engaging, informative content designed to assist candidates in preparing for national and state-level competitive government exams. I specialize in crafting insightful articles that keep aspirants updated on the latest trends and developments in current affairs. With a strong emphasis on educational excellence, my goal is to equip readers with the knowledge and confidence needed to excel in their exams. Through well-researched and thoughtfully written content, I strive to guide and support candidates on their journey to success.